Stanley Druckenmiller is a big name when it comes to the investment domain. He was seen speaking in an interview at a CNBC show called Squawk Box that ended up adding value to the theory of storing digital currencies like Bitcoin. The investor was seen talking about the possibility of the US dollar losing its value and asset as the popularity of digital currencies like Bitcoin has gone up. One can find a number of possibilities of the USD also losing its sheen when it comes to reserve assets along with the rise of the Bitcoin along with other digital currencies when it comes to sorting out the issues boosted up by the current financial crisis along with the ongoing second wave Covid times in the world. The veteran investor who is fondly seen as a hedge fund manager is of the view that the US-based Federal Reserve agencies are going to have a massive kind of expansion during the fiscal policy, and it is also going to boost up the debt.
He further added, saying that in the coming 15 years, the country will not be able to go for a reserve currency for the sake of policy’s sake. He also has an issue with the FED planning as it is going to support things like Quantitative Ease, which happens to be a policy that is implemented with the help of any central bank when it comes to buying the financial assets while injecting the money into the form of capital inside the markets by $2.5 trillion after the confirmation of the vaccine. He is also worried about the economy, which seems to be accelerating regarding the trend and the jobs that are seen coming up in the nation. He called the situation like a black hole that seemed to have been the issue of the pandemic, and it will come as a preventive measure, claims the investor. Checking on apps like desire-crypto.com can make all the difference in getting a fair understanding of the same.
Bitcoin that remains the digital currency ledger happens to be a system that has come along like a solution. While adding to his statement, the veteran investor said that digital currency remains a key solution when it comes to searching for a problem. This is the reason why he feels secure as far as playing with digital currency during the first wave as one can see the dollar in the right shape and hence having the digital assets is questionable feels this man. He said the issue had been now clearly known, and he sees a trust issue with the banks, particularly the top central banks of the country. Thus to make things better, the reserve money should be going to meet certain yardsticks, and he feels that with such ways, it will emerge as an alternative to the fiat currencies.
He said that the reserve money could help in believing in the alternative to the fiat currencies, while the Euro seems to be a big disaster and one can be seen going to trust over the Chinese financial experts also called digital currency to be the right solution for the same. He feels that bitcoin would remain the king and the kingmaker as far as the storing of digital assets is concerned. Regarding the raging mania along with the assets, one can find other digital currencies gaining a good group over the phenomenon that would remain on the top. He even said that there seemed to be many issues that can be sorted out with the stock market, but there seemed to be low at the moment, and it would return soon in the coming future.
Later he was seen claiming the fact that BTC is going to maintain the value of the digital asset on the higher side. Experts feel that BTC has remained an old brand, and it is going to have a good time in the coming time as well. If not the BTC, then other digital coins would take the chance to come up and make the same in the right way. The financial expert feels that BTC and ETH, on the higher side of their popularity, have the potential of changing the fate of the failing economy and adding value to the current falling economy.