Billionaire Stanley Druckenmiller says bitcoin is beating gold in an inflationary bull market environment — here’s why

Billionaire investor Stanley Druckenmiller outlines when he thinks it’s smart to own Bitcoin (BTC) and when it’s better to own gold.

The former president of venture capital firm Duquesne Capital told a recent panel at the Sohn conference that financial markets can take two paths to move forward.

According to Druckenmiller, policymakers are either returning to loose monetary policy and igniting a bullish market bolstered by inflation, or they continue on their current trajectory of creating a bearish environment that destroys demand to tame inflation.

Explains Druckenmiller,

“If you think we’re going to have irresponsible monetary policy and inflation in the future, you want to own bitcoin when it’s in a bull phase, but when it’s in a bear phase for other assets, you want to own gold.”

The billionaire says 85% of this strategy is based on what he’s observed about how each asset behaves in the market, and the other 15% on the type of investor who prefers each asset.

“FAANG-type over-the-counter investors, if they believe in inflation and tend to be younger, they want to play bitcoin. Old curmudgeons who secretly want the world to fall apart don’t own bitcoin. You own gold.”

Bitcoin is trading at $21,187.00 at the time of writing. The top-rated crypto asset by market cap plunged nearly 19% in the past 24 hours.

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