The value of every asset can collapse at any moment, so the bubble extends beyond cryptocurrencies. This view was expressed by billionaire Stanley Druckenmiller in a conversation with investor Seth Klarman at the Boston conference, according to Bitcoin.com.
“Cryptocurrencies, meme stocks, art, wine, securities. … This bubble is in everything, in every asset on the planet,” he said.
Druckenmiller noted that the current state of the crypto market does not resemble the dot-com bubble, which, in his words, affected far fewer people than the digital-asset industry does today.
“That was a tech bubble and, in some sense, a deserved bubble, because the market for twenty years realised the network effect and understood that companies can appear from nowhere and have two billion customers,” the billionaire explained.
Earlier, renowned American investor Bill Miller stated that Bitcoin is not a bubble, but the asset’s volatility is the price you pay for its advantages.
In May, Druckenmiller complained about the low liquidity of the first cryptocurrency after the price fell in 2020.
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