Famend investor Stanley Druckenmiller has shared his views on dogecoin and ethereum. He mentioned he wouldn’t lengthy or brief dogecoin and laughs when the meme cryptocurrency rises in worth. As for ether, he’s skeptical whether or not it will probably maintain its place.
Stan Druckenmiller on Dogecoin and Ether
In an interview with The Hustle final week, famed investor Stanley Druckenmiller shared his ideas on bitcoin, ether, and dogecoin, the meme cryptocurrency that has not too long ago taken the market by storm.
Druckenmiller based Duquesne Capital in 1981. He managed cash for George Soros because the lead portfolio supervisor for the Quantum Fund till 2000. He and Soros made huge earnings betting towards the British pound in 1992.
The billionaire investor mentioned that dogecoin “is rather like NFTs [non-fungible tokens]. It’s a manifestation of the craziest financial coverage in historical past.” He added: “I believe since there’s no restrict on provide, I don’t actually see the utility of it proper now. It’s simply this wave of cash within the Larger Idiot Idea.” Druckenmiller opined:
Now having mentioned that, I wouldn’t brief it as a result of I don’t like placing campfires out with my face. So I simply attempt to faux DOGE doesn’t exist. I believe so little of it, it doesn’t even trouble me when it goes up.
He continued: “When bitcoin used to go up, I’d go loopy as a result of I didn’t personal it. When dogecoin goes up, I simply begin laughing. Don’t go lengthy and don’t go brief. I imply, you realize, until you want going to Vegas, then I assume it’s okay.”
With reference to bitcoin vs. ethereum, Druckenmiller mentioned, “I believe bitcoin has received the shop of worth sport” as a result of it’s “a model, it’s been round for 13-14 years, [and] it has a finite provide.” On whether or not different cryptocurrencies will exchange bitcoin, he reiterated that BTC is “going to be very, very powerful to unseat.”
Whereas acknowledging that “the lead in good contracts and that type of stuff can be ethereum,” he famous:
I’m slightly extra skeptical of whether or not it will probably maintain its place. It jogs my memory slightly of Myspace earlier than Fb. Or perhaps a greater analogy is Yahoo earlier than Google got here alongside.
He described, “Google wasn’t that a lot quicker than Yahoo, nevertheless it didn’t should be. All it wanted to be was slightly bit quicker and the remainder is historical past.”
What do you concentrate on Stan Druckenmiller’s views on dogecoin and ether? Tell us within the feedback part under.
Picture Credit: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This text is for informational functions solely. It isn’t a direct provide or solicitation of a suggestion to purchase or promote, or a suggestion or endorsement of any merchandise, companies, or corporations. Bitcoin.com doesn’t present funding, tax, authorized, or accounting recommendation. Neither the corporate nor the creator is accountable, immediately or not directly, for any harm or loss brought about or alleged to be attributable to or in reference to using or reliance on any content material, items or companies talked about on this article.