Billionaires have been increasingly accumulating Bitcoin in recent months.
There are four main reasons Bitcoin is becoming more compelling to high-net-worth investors.
Investors increasingly viewing Bitcoin as "Gold 2.0".
Bitcoin has the potential to achieve both, as it is evolving into a safe-haven asset with massive growth potential.
During his interview, Druckenmiller noted that he owns "Many many more times gold" than Bitcoin.
The billionaire investor emphasized that if gold rises, Bitcoin would also see massive gains and "Probably work better."
There is larger upside potential, even if Bitcoin composes of a smaller percentage of a portfolio than gold.
Over the long term, investors including Tudor Jones consider Bitcoin as an ideal inflation play.
The combination of the abovementioned four factors are making Bitcoin an increasingly attractive portfolio asset for money managers.
Raoul Pal, the CEO of Real Vision Group, further noted that investors like Druckenmiller longing Bitcoin should not be understated in what may be a watershed moment.
Why billionaires are suddenly accumulating Bitcoin after 113% YTD gain
Published on Nov 10, 2020
by Cointele | Published on Coinage
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