The chorus is getting louder.
Adding his sonorous voice to the chorus of renowned investors talking about bitcoin recently, hedge fund manager Stanley Druckenmiller stated on a CNBC interview this week that he believed bitcoin could perform better than gold.
Here’s part of the quote:
“I own many, many more times gold than I own bitcoin, but frankly if the gold bet works, the bitcoin bet will probably work better because it’s thinner and more illiquid and has a lot more beta to it.“
This is worth diving into a bit, because the statement is good news for the industry, but it is not the bullish affirmation that it initially seems.
This is not Druckenmiller saying that bitcoin has a better value proposition than gold, or that it has a harder cap or that decentralization is the way to go.
No, this is Druckenmiller