Billionaire Stan Druckenmiller: There’s a bubble in everything, including cryptocurrencies

“Everything is in a bubble, including cryptocurrencies, Meme stocks, other stocks and bonds,” billionaire Stan Druckenmiller said at an investment conference in Boston. “This bubble is covering every asset on the planet.”

Druckenmiller is chairman and CEO of Duquesne Family Office LLC and previously served as managing director of Soros Fund Management. Druckenmiller stresses that the current bubble is not as narrow as the dotcom bubble. But he thinks many investors live in the present, and bubbles can be disastrous in the long run. But in the short term the investment will pay off. Druckenmiller earlier revealed that he owned bitcoin and said it was a more attractive store of value than gold.

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