‘I don’t own Bitcoin, but I should,’ says Druckenmiller

Young people see bitcoin as a “store of value,” he added


RATCHANON SITTIKAN/Shutterstock modified by Blockworks


Investor Stanley Druckenmiller recently spoke about bitcoin during a fireside chat with Paul Tudor Jones.

The 70-year-old investor admitted that he doesn’t currently own any bitcoin — “but I should,” he continued.

To Druckenmiller, gold and bitcoin are similar, just with a huge age gap. 

“I’m 70 years old, I own gold. I was surprised that bitcoin got going, but you know, it’s clear that the young people look at it as a store of value because it’s a lot easier to do stuff with. 17 years, to me, it’s a brand. I like gold because it’s a 5,000-year-old brand, but the young people have all the money, certainly the ones on the West Coast do,” he told Paul Tudor Jones on Oct. 24.

“So, I like them both. I don’t own any bitcoin but I should.”

Read more: AllianceBernstein calls bitcoin a ‘safe haven asset,’ more attractive than gold

This isn’t the first time that Druckenmiller has made positive comments about bitcoin or crypto.

In September of last year — before the collapse of FTX — Druckenmiller admitted to CNBC that he no longer owned bitcoin because of “central banks tightening.” Druckemiller admitted to owning bitcoin in 2021.

Druckenmiller also said: “It’s tough for me to own anything like [cryptocurrencies] with central banks tightening. But yeah, I still think — if the Bank of England, what they did — is followed by…other central banks in the next two or three years, if things get really bad…I could see cryptocurrency having a big role in a Renaissance because people just aren’t going to trust the central banks.” 

Druckenmiller has compared bitcoin and gold in the past, admitting that he believes the younger generations view bitcoin as he views gold in 2021. 

He dubbed it a “plaything” at a conference a few years ago in an interview with Goldman Sachs.

“I have my doubts whether bitcoin itself will be anything other than a store of value because it’s got all sorts of problems as a currency…But you know, right now it’s an asset class,” Druckemiller said in the 2021 interview.

Start your day with top crypto insights from David Canellis and Katherine Ross. Subscribe to the Empire newsletter.

The Lightspeed newsletter is all things Solana, in your inbox, every day. Subscribe to daily Solana news from Jack Kubinec and Jeff Albus.


Upcoming Events

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

Screenshot 2024-05-23 091855.png


Bitcoin L2s aim to boost scalability while preserving decentralization and security, unlocking a better user experience, and new avenues for Bitcoin-powered innovations. However, no existing Bitcoin L2 leverages the full security of Bitcoin.



The convergence of AI and blockchain on Polkadot represents a groundbreaking opportunity for investors and developers alike


The company is making public a previously private offer rejected by Bitfarms’ board of directors last month


Semler Scientific, a publicly traded medical tech company, joined MicroStrategy by buying up millions of bitcoin


As someone who’s been knee-deep in the trenches of blockchain development, I can’t help but wonder if these behemoths are really cutting it anymore


UNI and MKR are suffering from the successes of their respective protocols


Maybe there’s no silver bullet to avoiding most tokens dumping after launch…