Billionaire Investor About Bitcoin: Professionals Don’t Play These Games
Investment fund manager Stanley Druckenmiller, known as one of the most successful Wall Street managers and the man who, along with George Soros in 1992, made more than $ 1 billion playing against the Bank of England, joined the ranks of the bitcoin skeptics.
“I look at bitcoin and see a solution that is looking for its own problem,” he said during a speech at the Economic Club of New York. “I don’t understand why we need him.”.
For Druckenmiller, whose fortune is estimated at $ 2.8 billion, bitcoin is a game that he is not in the mood to play: “Professionals do not play. I don’t need to play “.
At the same time, one cannot but give the investor his due for the fact that, unlike some of his colleagues, he came to such conclusions, having some idea of the principles of Bitcoin functioning. “I am told that it will become a store of value. Do not understand why. There are many things that cannot be created out of thin air, but they do not grow to a million because of this, ”said Druckenmiller, referring to the deflationary nature of Bitcoin..
According to one of the users in the comments, Druckenmiller overlooks the fact that limited emission of an instrument can be a determining parameter only if the instrument itself has some useful qualities – in this case, the ability to commit uncensored transactions – whereas in their absence he really cannot become a means of accumulation.
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