The American thinks owning bitcoin is the right investment strategy considering the forecasted skyrocketing inflation.
The American investor, hedge fund manager, and philanthropist – Stanley Druckenmiller – believes the US economy is heading towards recession “sometime in 2023.” Amid his projection of an “inflationary bull market,” the billionaire would choose to own bitcoin rather than gold.Over the past month, bitcoin’s price has been hovering around $30,000, which has been considered a disappointing level compared to last year’s all-time high of nearly $70K.
“Crypto is a movie that is about to be played out and one that I don’t want to bet on conviction, but I will be very surprised if blockchain isn’t a real force in our economy, say five years from now, ten years from now.”Asked how he envisions the future of the US economy, Druckenmiller argued it will slip into recession in 2023 while inflation will keep its galloping pace.
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