Billionaire investor Stanley Druckenmiller says he owns bitcoin as a ‘sort of a plaything’ – and millennials look at it the way he views gold

SourceBusiness Insider
SectorFinancial Markets
CountryMiddle east

US billionaire Stanley Druckenmiller says he owns some bitcoin, and it may well be a new asset class. "I do own some of it," he said in a recent episode of Talks with Goldman Sachs. "It's gone up a lot since I bought it. It's just sort of a plaything. I don't really believe in it.

I don't really not believe in it. It could be a new asset class. The answer is - I don't know." Bitcoin rose 13% to a record high on Monday after Tesla disclosed that it spent $1.5 billion to buy the popular cryptocurrency. The token was last trading around $43,725.51, smashing its previous all-time high near $41,000 set in January. Tesla's purchase is expected to create a ripple effect across corporations around the globe and add momentum to its shares as more investors start to factor in its crypto exposure as part of its overall valuation, according to analysts at Wedbush. Read More: RBC says to buy these...read more...