American Billionaire Stanley Druckenmiller: No Interested In Investing In Bitcoin or Crypto Assets

The recognised investor Druckenmiller says that he would not be shorting or investing in Bitcoin since he does not know what gives value to the digital asset. Nevertheless, he invested in the stablecoin project called Basis in 2018.

  • Druckenmiller would remain outside the crypto market
  • He said that he would not be short or long Bitcoin

    The billionaire investor Stanley Druckenmiller said during a recent interview that he is not interested in entering the cryptocurrency market. The American investor has a net worth of $4.4 billion. He said that during a conversation with Bloomberg.

Investor Says He Would Not Long or Short Bitcoin

During a conversation with Scot Bessent, the founder of Key Square Capital Management, the billionaire investor said that he would not be interested in investing in Bitcoin (BTC). He said that he was attacked several times for his decision not to invest in the market.

Druckenmiller explained that he would not short or long the digital currency since he does not understand why the virtual currency has inherent value. There are other investors in the traditional financial industry that are also taking similar positions as Mr. Druckenmiller.

Although Druckenmiller is not trying to invest in Bitcoin, he has already placed his funds on the stablecoin project called Basis. Apparently, price volatility is something that the investor does not like and this might be the reason why he decided to invest in this stablecoin project.

During an interview with CNBC in 2018, he said that he knew that people would not be able to make transactions using Bitcoin because the price of the digital asset fluctuates a lot to be used as a means of payment.

Although Bitcoin has recently dropped more than $600, the digital currency has experienced a very positive year after increasing more than 140% during the first months of 2019.

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Carl T
Carl T
Carl is a legend in cryptocurrency space for his long-storied experience, history and insights. He is a digital nomad who fell in love with bitcoin and its offspring for many years now and prides himself on delivering quality perspectives in the emerging world of crypto-assets and blockchain technology.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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