Bitcoin News and Finance
Billionaire Stan Druckenmiller Warns Crypto, Meme Stocks, Bonds Are in a Bubble: ‘This Bubble Is in Everything’ Skip to main content

Billionaire Stan Druckenmiller Warns Crypto, Meme Stocks, Bonds Are in a Bubble: ‘This Bubble Is in Everything’

Billionaire Stan Druckenmiller Warns Crypto, Meme Stocks, Bonds Are in a Bubble: 'This Bubble Is in Everything'

Billionaire investor Stan Druckenmiller has warned that everything is in a bubble, mentioning cryptocurrency, meme stocks, equities, and bonds in particular. “This bubble is in everything, every asset on the planet,” Druckenmiller stressed.

Druckenmiller’s Warning: Every Asset Is in a Bubble

Stan Druckenmiller discussed bubbles and value investing last week in a conversation with American billionaire investor and hedge fund manager Seth Klarman at the Boston Investment Conference.

Druckenmiller is chairman and CEO of Duquesne Family Office LLC. He was previously a managing director at Soros Fund Management where he had overall responsibility for funds with a peak asset value of $22 billion. According to Forbes’ list of billionaires, his personal net worth is currently $6.8 billion.

Klarman, who is the CEO of hedge fund Baupost Group, reportedly asked him: “If the bond market is what everybody’s keying off of and the bond market is in a bubble, then everything’s a bubble, is that fair?” Druckenmiller replied:

Yeah, crypto, meme stocks, art, wine, equities … This bubble is in everything, every asset on the planet.

The current bubble is not a narrow one like the dot-com bubble, Druckenmiller emphasized. “Everybody tries to compare this with ’99. That was a bubble in technology and, in some sense, a well-deserved bubble because the market figured out 20 years ahead of time the networking effect and that companies could come out of nowhere and have 2 billion customers. But it was a very, very narrow bubble.”

Klarman further asked if anything is not in a bubble and is undervalued. “You’re a value investor. I’m not,” Druckenmiller replied. “I don’t know what value means. I’m sure there’s value out there but I’m unable to see what it is, it’s really not my methodology.”

The billionaire chairman of Duquesne Family Office continued: “My North Star is every event in the world affects some security and I try to imagine the world as it is today and then try and see if there’s some kind of seismic change going on and how the world might look in 18 months. And if it does look that way, what are the securities that would be priced very differently than they are now?” He further opined:

I think a lot of investors live in the present, which is a disaster long term. It might work short term.

Druckenmiller revealed in November last year that he owned bitcoin, noting that the cryptocurrency was an attractive store of value that could beat gold. In June this year, he shared how he invested millions in BTC after he got a call from billionaire hedge fund manager Paul Tudor Jones about it. Jones himself said last month that he preferred bitcoin to gold as a hedge against inflation.

What do you think about Stan Druckenmiller’s warning? Let us know in the comments section below.

Labels:

Comments

Post a Comment

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl
Post a Comment
Read more

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju
Post a Comment
Read more

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and
Post a Comment
Read more

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r
Post a Comment
Read more
Blogarama - Blog Directory