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Investor Stanley Druckenmiller recently spoke about bitcoin during a fireside chat with Paul Tudor Jones.<\/p>\n
The 70-year-old investor admitted that he doesn\u2019t currently own any bitcoin \u2014\u00a0\u201cbut I should,\u201d he continued.<\/p>\n
To Druckenmiller, gold and bitcoin are similar, just with a huge age gap.\u00a0<\/p>\n
\u201cI\u2019m 70 years old, I own gold. I was surprised that bitcoin got going, but you know, it\u2019s clear that the young people look at it as a store of value because it\u2019s a lot easier to do stuff with. 17 years, to me, it\u2019s a brand. I like gold because it\u2019s a 5,000-year-old brand, but the young people have all the money, certainly the ones on the West Coast do,\u201d he told Paul Tudor Jones on Oct. 24.<\/p>\n
\u201cSo, I like them both. I don\u2019t own any bitcoin but I should.\u201d<\/p>\n
Read more:<\/strong> AllianceBernstein calls bitcoin a \u2018safe haven asset,\u2019 more attractive than gold<\/a><\/p>\n This isn\u2019t the first time that Druckenmiller has made positive comments about bitcoin or crypto.<\/p>\n In September of last year \u2014 before the collapse of FTX<\/a> \u2014 Druckenmiller admitted to CNBC<\/a> that he no longer owned bitcoin because of \u201ccentral banks tightening.\u201d Druckemiller admitted to owning bitcoin in 2021.<\/p>\n Druckenmiller also said: \u201cIt\u2019s tough for me to own anything like [cryptocurrencies] with central banks tightening. But yeah, I still think \u2014 if the Bank of England, what they did \u2014 is followed by\u2026other central banks in the next two or three years, if things get really bad\u2026I could see cryptocurrency having a big role in a Renaissance because people just aren\u2019t going to trust the central banks.\u201d\u00a0<\/p>\n Druckenmiller has compared bitcoin and gold in the past, admitting that he believes the younger generations view bitcoin<\/a> as he views gold in 2021.\u00a0<\/p>\n He dubbed it a \u201cplaything\u201d at a conference a few years ago in an interview<\/a> with Goldman Sachs.<\/p>\n \u201cI have my doubts whether bitcoin itself will be anything other than a store of value because it\u2019s got all sorts of problems as a currency\u2026But you know, right now it\u2019s an asset class,\u201d Druckemiller said in the 2021 interview.<\/p>\n Don\u2019t miss the next big story \u2013 join our\u00a0free daily newsletter<\/a>.<\/strong><\/p>\n
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