Reshab AgarwalStan Druckenmiller, a well-known investor, said that he would neither bullish nor bearish on dogecoin. However, later, when the cryptocurrency, based on a meme, rises in value, he laughs. He is unsure about Ethereum, though, as he is not sure whether it can hodl its position or not.
Stan Druckenmiller’s Views on Ethereum and Dogecoin
Last week, in an interview conducted by The Hustle, Druckenmiller shared his views on several cryptos. He especially emphasized bitcoin, ether, and dogecoin. By surprise, dogecoin has taken the market by cyclone after the cyclone.
The famous investor said many things about dogecoin. One of them was, they are like non-fungible tokens (NFTs). He thinks it is a display of insane policies related to money. Stan further added to his conversation that he thinks there is no limit on supply and doesn’t see its use right now.
The billionaire bashed a little more about dogecoin by adding that it doesn’t bother him when its price goes up. He thinks very little of it, so he tries and pretends that the meme currency doesn’t even exist. He said he wouldn’t short it because he is against putting campfires out with his face. Well, nice metaphor.
Stan Druckenmiller has positive thoughts about Bitcoin.
Stan further added that he goes crazy when Bitcoin’s price goes up because he doesn’t own it. Stan sarcastically starts laughing when dogecoin goes up. He suggests not to go short nor long. Druckenmiller makes a joke by saying that it is different if a person is going to Vegas. After all, what happens in Vegas stays in Vegas.
He gave some valued opinions about bitcoin and ethereum. Stan Druckenmiller said that bitcoin is superior and has won the store of a value game. This was mentioned because the billionaire thinks it has gained brand value for 13-14 years. Also, bitcoin has a finite supply. When asked that whether other cryptos can overpower bitcoin or not, Druckenmiller said that it would be very, very tough to unseat.
Though he is doubtful that whether Ethereum will hold its position or not, Stan intelligently compares ethereum and bitcoin with the existence of yahoo before Google came into play. He says that though Google was not much faster than Yahoo, funnily, it didn’t have to be. All it needed was to be a little bit faster than Yahoo, and the rest is history.
What he said is a nice example of the quote where one says that ‘You can’t outrun the dog, he is fast,’ and the other person says, ‘I don’t have to outrun the dog, I have to outrun you.’ So now, what do you think about Stan Druckenmiller’s ideology about dogecoin and ethereum? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.
Also read: JPMorgan CEO Jamie Dimon asks people to ‘Stay Away’ from Crypto!