Stanley Druckenmiller: The Bubble Is More Than Cryptocurrencies

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The value of any asset can collapse at any moment, so it’s not just cryptocurrencies that are in the bubble. This opinion was expressed by billionaire Stanley Druckenmiller in a conversation with investor Seth Klarman at the Boston conference, writes

“Cryptocurrencies, meme shares, art, wine, securities. […] This bubble is in everything, in every asset on the planet, ”he said.

Druckenmiller noted that the current situation in the cryptocurrency market is not like the dot-com bubble, which he says has reached significantly fewer people than the digital asset industry today.

“It was a technology bubble and, in a sense, a well-deserved bubble, because the market calculated the network effect for 20 years and realized that companies could appear out of nowhere and have 2 billion customers,” the billionaire explained.

Earlier, the famous American investor Bill Miller said that bitcoin is not a bubble, but the volatility of an asset is a payment for its benefits.

In May, Druckenmiller complained about the low liquidity of the first cryptocurrency after depreciating in 2020. Because of this, the billionaire stopped buying bitcoin, after which the asset began to grow.

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