Community Trust ScoreVerified
- 2 weeks to buy $20m worth of Bitcoin
- Bitcoin is held by 114 million People
Bitcoin has become a brand, right? So it’s funny. I tried to buy $100m of Bitcoin at a price of $6,200. It took me 2 weeks to buy $20m. I bought it all-around $6,500, I think. And I said, “This is ridiculous.” – Stanley Druckenmiller.
Who is Stanley Druckenmiller? Stanley Freeman Druckenmiller is an American investor, hedge fund manager, and philanthropist. He is the former chairman and president of Duquesne Capital, which he founded in 1981. He closed the fund in August 2010. At the time of closing, Duquesne Capital had over $12 billion in assets.
Druckenmiller has invested in Toggle AI, an investing AI startup set up. Toggle AI recently set up a conversation with Druckenmiller where he tells more about what makes a great investor. He covered for topics like: 1. How he makes an investment decision? 2. Whether we are in another tech bubble? 3. What career advice Druckenmiller has for 20-year olds? 4. What he thinks of crypto (Bitcoin, Ethereum, and Dogecoin)? 5. Which Big Tech firm will be the first to reach a $5T valuation? And a whole lot more. Enjoy.
He pointed to how he has been able to see more similarities and more differences between the Dotcom bubble and the tech stocks. Valuations are in speculative levels.
Community Response: Coming back to his Bitcoin experience, probably he’s saying the liquidity was poor for buying? Isn’t this a bad thing? Thinking through this more, it’s possible he also was using an exchange for which he had deposit limits. Poor guy, only made $100,000,000 in profits.
Back to Michael Saylor, who pointed to Udi Wertheimer, who stated, “Bitcoin is digital real estate.”
Bitcoin is now held by more than 114 million people, making it the fastest-growing, most widely held financial asset in the history of the world.
The community tried to add to it or clarify by stating: It’s even better than that. Governments can confiscate real estate. But no one can take your Bitcoin.
And as for most held assets in the world, that isn’t even remotely true. It’s the most giant speculative bubble in the world.
Top investors with the best analysts in the world are throwing hundreds of millions, if not billions, into bitcoin. About 118 million people are also investing, and many think it is a speculative bubble? And, the most interesting part is that Bitcoin buyers have not stopped buying.
Bitcoin is the opposite of a lie. Everything is open source and 100% transparent. Bitcoin is the truth. It is hard for people who are falling asleep.
Some were left wondering; what I see is the influx of retail investors when it is rising, and institutions buying bottom to increase the price when it is falling. Can this kind of market take off?
