Bitcoin Has a List of Billionaire Backers
Bitcoin is still seen by some as a scam or something with little intrinsic value. But this is changing, with both retail investors and prominent institutional investors starting to wake up to Bitcoin and cryptocurrencies as a whole.
Here’s a brief recap of some of the many billionaires that are big on Bitcoin:
Stanley Druckenmiller Might be the Biggest One Yet
Some have argued that Stanley Druckenmiller’s endorsement of Bitcoin may the biggest one yet.
On Monday, the billionaire Wall Street investor took to CNBC to talk about his thoughts on markets. Widely regarded as one of the world’s best asset managers, Druckenmiller said that he thinks Bitcoin may be a better bet on inflation than gold. He did admit that he owns more gold than he owns Bitcoin on a dollar basis, but that he expects BTC to catch up in terms of its price action.
The investor added the coin has “a lot of attraction in it” from millennial investors and “West Coast money.”
Commenting on this news story, Raoul Pal, CEO of Real Vision and a friend of Druckenmiller’s, said:
Many investors right now are hesitant to buy Bitcoin because they think it is a scam or something that “normal” investors should not own. But with one of the best investors in the world endorsing Bitcoin, capital allocations to this space could trend higher rapidly.
Featured Image from Shutterstock Price tags: xbtusd, btcusd, btcusdt Charts from TradingView.com Macro Analysis Predicts Bitcoin Has Begun Rally Toward $100k
Originally from Bitcoinist.com https://ift.tt/3lmAinI
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