Stanley Druckenmiller: a blockchain asset could replace the US dollar

Former hedge fund manager and billionaire Stanley Druckenmiller believes the US dollar could be replaced by a distributed ledger system. During an interview on CNBC, Druckenmiller noted that the "smart guys" at MIT or Stanford could come up with a "distributed ledger system" that would replace the US dollar around the world. 

But from fiat currencies, there is no one to compete with the dollar. The billionaire also noted that now cryptocurrencies are often called a hedge of inflation, and Fed Chairman Jerome Powell and the leadership of central banks of other countries are to blame for this.

"I said that cryptocurrency can become a hedge against inflation, but I did not invest in it, because we had the US dollar. Why change something? But now the problem has manifested itself much more strongly. Thanks to Jerome Powell and the Central Bank of the world. Lack of trust," 

said Druckenmiller.

When asked about the position of bitcoin in the market, Druckenmiller expressed the opinion that nothing threatens the leadership of the first cryptocurrency as a means of storing wealth. Yes, Ethereum is popular for launching smart contracts, but behind bitcoin lies "a history of 14 years, a whole brand, and, of course, limiting the amount of this asset." Recall that last November Stanley Druckenmiller said that investing in bitcoin is better than investing in gold. 

SOURCE