Renowned financier Stanley Druckenmiller has actually shared his views on dogecoin and ethereum. He stated he wouldn’t long or short dogecoin and chuckles when the meme cryptocurrency increases in worth. As for ether, he is skeptical whether it can hold its position.
Stan Druckenmiller on Dogecoin and Ether
In an interview with The Hustle recently, famous financier Stanley Druckenmiller shared his ideas on bitcoin, ether, and dogecoin, the meme cryptocurrency that has actually just recently taken the marketplace by storm.
Druckenmiller established Duquesne Capital in 1981. He handled cash for George Soros as the lead portfolio supervisor for the Quantum Fund up until 2000. He and Soros made enormous revenues wagering versus the British pound in 1992.
The billionaire financier stated that dogecoin “is similar to NFTs [non-fungible tokens]. It’s a symptom of the craziest financial policy in history.” He included: “I believe because there’s no limitation on supply, I wear’t actually see the energy of it today. It’s simply this wave of cash in the Greater Fool Theory.” Druckenmiller believed:
Now having stated that, I wouldn’t short it due to the fact that I wear’t like putting campfires out with my face. So I simply attempt and pretend DOGE doesn’t exist. I believe so little of it, it doesn’t even trouble me when it increases.
He continued: “When bitcoin utilized to increase, I’d go bananas due to the fact that I didn’t own it. When dogecoin increases, I simply begin chuckling. Don’t go long and wear’t go short. I imply, you understand, unless you like going to Vegas, then I think it’s all right.”
On the topic of bitcoin vs. ethereum, Druckenmiller stated, “I believe bitcoin has actually won the shop of worth video game” due to the fact that it is “a brand name, it’s been around for 13-14 years, [and] it has a limited supply.” On whether other cryptocurrencies will change bitcoin, he repeated that BTC is “going to be really, really hard to unseat.”
While acknowledging that “the lead in clever agreements which kind of things would be ethereum,” he kept in mind:
I’m a bit more skeptical of whether it can hold its position. It advises me a little of Myspace prior to Facebook. Or possibly a much better example is Yahoo prior to Google occurred.
He explained, “Google wasn’t that much faster than Yahoo, however it didn’t requirement to be. All it required to be was a little bit much faster and the rest is history.”
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