Billionaire Druckenmiller says Crypto, Meme Stocks, Bonds are in a Bubble
Stan Druckenmiller shared his stance on the current situation of the crypto market & Bond market based on sceptical thinking of people and said that all are in a bubble.
In the present time, the crypto market is following a bullish nature. At one end Bitcoin is trying to touch $70,000 and on the other side meme coin, Shiba is getting better support from the retail trader community because of the recent huge surge in its price. In this situation, the CEO of Duquesne Family Office LLC shared his point of view on the sceptical thinking of people over such a crypto & bond industry.
In speaking in a Boston conference meeting with Seth Klarman – American billionaire investor and hedge fund manager & Druckenmiller- chairman and CEO of Duquesne Family Office LLC did a detailed conversation on the matters regarding the whole assets based investment.
Klarman asked Stan what their stance on the question was “If the bond market is what everybody’s keying off of and the bond market is in a bubble, then everything’s a bubble, is that fair?”. Then Stan stated
“Yeah, crypto, meme stocks, art, wine, equities … This bubble is in everything, every asset on the planet”
Further, Stan elaborated his statement with past incident-based examples. Stan took the reference of the bubble that took place with the technology-based projects that failed ( In the years of revolution of the tech industry) and “companies could come out of nowhere and have 2 billion customers. But it was a very, very narrow bubble.”
So here, Stan believed that everything is sceptical over the better statistical growth because there is a minor chance of a bubble.
Further, Stan said to try to think about the world as it is in the present time and then try to think if there’s some kind of seismic change going on and how the world might look in the next 1.5 years.
“I think a lot of investors live in the present, which is a disaster long term. It might work the short term”
Stan inclination in bitcoin
Earlier this, Stan said that they invested millions in Bitcoin last year in November month because of the suggestion by the hedge fund manager Paul Tudor Jones. Jones himself supports Bitcoin over gold to fight against inflation.
Read also: Zimbabwe finance minister believes crypto can help the country
