Billionaire Stanley Druckenmiller Talks about Crypto

The billionaire CEO of Duquesne Family Office, Stanley Druckenmiller discussed the U.S. economy and crypto in an interview at the CNBC Delivering Alpha conference on Wednesday. 

Talking about the news of the Bank of England buying 65 billion pounds of U.K. bonds, he said that “if things get really bad” and other central banks take similar action in the next two or three years, then he could see “crypto having a big role in a Renaissance because people just aren’t going to trust the central banks.”

However, he clarified that he does not own bitcoin or any other crypto. He said that it’s tough for him to own anything like that amidst the “central banks tightening”.

Talking about recession he said “Let me just say this. I will be stunned if we don’t have a recession in ’23. Don’t know the timing, but certainly by the end of ’23.”