Billionaire Hedge Fund Manager, Stanley Druckenmiller Long Bitcoin

Many investors have speculated that bitcoin may develop into a "Gold 2.0," and have touted it's strengths as a long-term store of value, but there are also many billionaires and academics who don't see bitcoin as having any value. The truth has yet to play out, but in a recent conversation on CNBC, Stanley Druckenmiller, billionaire hedge fund manager and prior critic of bitcoin, stated that bitcoin could be an asset class and that he actually owns a small amount himself. 

And it certainly didn't go unnoticed. 

The significance of the worlds greatest and most respected money manager - Stan Druckenmiller saying just now that he is long bitcoin can not be overstated. That has removed every obstacle for any hedge fund or endowment to invest...#Bitcoin

— Raoul Pal (@RaoulGMI) November 9, 2020

Billionaire Stan Druckenmiller casually mentions on CNBC that he has warmed up to #Bitcoin and now owns it.

— Preston Pysh (@PrestonPysh) November 9, 2020

Bitcoin Bulls:

1) Stanley Druckenmiller
2) Paul Tudor Jones
3) @jack
4) @michael_saylor
5) Abby Johnson
6) @chamath
7) Bill Miller
8) @novogratz
9) @CathieDWood
10) David Swensen

Damn good group of investors if you ask me.

— Yano (@JasonYanowitz) November 9, 2020

He then goes on to state that he owns a lot more gold, showing that his confidence in gold, is still much higher than it is in bitcoin. From his brief comments, he seems to feel like bitcoin is worth a small allocation of his profile, just in case it does become significant. And if it doesn't, then losing a small amount of net worth won't hurt too much either.