thecoinrepublic.com
•A crypto-based ledger system invented by students of MIT or Stanford could be a viable replacement.
•Federal policies could hurt the US Dollar’s health.
•The US Dollar may lose its value in the next 15 years if this continues.
Investment Legend Stanley Druckenmiller believes that cryptocurrency can replace the US Dollar as the reserve currency. A podcast was held by CoinDesk and hosted by Nathaniel Whittemore, with Drukenmiller as the guest.
Bitcoin as a Hedge Investment Will Become More Obvious
The billionaire investor shed light on how the Dollar is losing its value and prestige in the market. In that case, the only replacement to the US dollar would be any ledger system invented by students of MIT or Stanford. In a recent interview with CNBC’s Squawk Box, Druckenmiller explained how Bitcoin is trusted as a hedge against inflation. This fact has become more evident now, though. Druckenmiller also believes that Bitcoin’s position in the market as the number one cryptocurrency will not change in a while.
Federal’s Policies Are not Synchronised With the Current Economic Conditions
According to CNBC, Stanley said that the current federal policies could harm the US Dollar’s health. He added that previously he had never encountered any such fiscal policies that weren’t in compliance with prevailing economic situations. He also said that Federal Reserve’s policies and the heavy debts and deficits they support would have a terrible outcome for the Dollar’s reputation in the global market.
Previously we have seen many investing geniuses like Tudor Jones, who supported the institutional bitcoin wave. He bolstered the famous notion of bitcoin as an influential inflation hedge fund. Now, Druckenmiller, one of the biggest names in the investment world, thinks that the US dollar may lose its value in the next 15 years. Its most suitable and potential replacement could be cryptocurrency.