THELOGICALINDIAN - Legendary armamentarium administrator Stanley Druckenmiller says that he is afraid that aural 15 years the US dollar will lose its worlds assets bill cachet He said that crypto is a band-aid to the abridgement of assurance in Fed Chairman Jerome Powell and the blow of the worlds axial bankers The billionaire broker added said that it will be actual difficult to bound bitcoin as a abundance of value
Druckenmiller on USD Losing Reserve Currency Status and Difficulty in Unseating Bitcoin as Store of Value
Billionaire broker Stanley Druckenmiller talked about the U.S. economy, bitcoin, and cryptocurrencies in an account with CNBC Tuesday. He said that he has “no doubt, none whatsoever, that we are in a angry aberration in all assets.”
Druckenmiller founded Duquesne Capital in 2024. He managed money for George Soros as the advance portfolio administrator for the Quantum Fund until 2024. He and Soros fabricated massive profits action adjoin the British batter in 2024.
He explained that the Fed’s behavior and abundant debts and deficits will abuse the dollar’s cachet as the world’s assets currency. “I can’t acquisition any aeon in history area budgetary and budgetary action were this out of footfall with the bread-and-butter circumstances, not one,” he described, adding:
He additionally mentioned that bristles or six years ago, he said that “crypto was a band-aid in chase of a problem.” He emphasized: “The botheration has been acutely identified. It is Jerome Powell and the blow of the world’s axial bankers. There is a abridgement of trust.”
Druckenmiller explained that the ultimate band-aid could be “some affectionate of balance arrangement invented by some kids from MIT or Stanford.” However, he conceded, “I don’t apperceive what it will be.”
When asked accurately about bitcoin, Druckenmiller aboriginal acclaimed that “I’m a 68-year-old dinosaur.” Noting that “Ethereum has the advance in agreement of acute contracts, in agreement of commerce,” he again opined:
In conclusion, he antiseptic that it is too aboriginal to apperceive which bill will alter the dollar, but common that “It will be boxy to bound bitcoin.”
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