Bitcoin، Ethereum، اور Dogecoin پر افسانوی سرمایہ کار اسٹینلے ڈرکن ملر

In a recent interview, American billionaire investor Stanley Freeman Druckenmiller shared his latest thoughts on crypto.

ڈرکن ملر نے پِٹسبرگ نیشنل بینک میں ایکوئٹی تجزیہ کار کے طور پر اپنے کیریئر کا آغاز کیا۔ پھر 1981 میں، اس نے سرمایہ کاری فرم Duquesne Capital Management کی بنیاد رکھی، جس کا ہر سال مثبت منافع ہوتا تھا یہاں تک کہ اس نے اگست 2010 میں ہیج فنڈ کے کاروبار کو چھوڑنے اور اپنی فرم کو بند کرنے کا فیصلہ کیا۔

ایک کے مطابق رپورٹ نیویارک ٹائمز (NYT) کے ذریعہ 18 اگست 2010 کو شائع ہوا، ڈرکن ملر نے سرمایہ کاروں کو لکھے گئے خط میں یہ وضاحت کرنے کے لیے کہ وہ ہیج فنڈ مینیجر کیوں بننا چھوڑنا چاہتے ہیں:

“I have had to recognize that competing in the markets over such a long time frame imposes heavy personal costs,” he wrote. “While the joy of winning for clients is immense, for me the disappointment of each interim drawdown over the years has taken a cumulative toll that I cannot continue to sustain.”

1988 اور 2000 کے درمیان، ڈرکن ملر کوانٹم فنڈ کے لیڈ پورٹ فولیو مینیجر تھے، جسے جارج سوروس اور جم راجرز نے 1973 میں شروع کیا تھا۔ 1992 میں، اس ہیج فنڈ نے برطانوی پاؤنڈ (GBP) کے خلاف $10 بلین کی کامیاب شرط لگائی۔

NYT رپورٹ کے مطابق، Soros اور Druckenmiller نے ہیج فنڈ ٹریڈنگ کے ایک نئے انداز کا آغاز کیا:

"مسٹر سوروس کے ساتھ، مسٹر ڈرکن ملر نے ایک سرمایہ کاری کی حکمت عملی کو آگے بڑھانے میں مدد کی جسے آج میکرو ٹریڈنگ کہا جاتا ہے۔ انہوں نے سرمایہ کاری کے دو مختلف طریقوں سے شادی کی۔ ایک طرف، دو فنڈ مینیجرز نے چارٹ دیکھ کر اور سیاسی رجحانات پر توجہ مرکوز کرتے ہوئے عالمی کرنسیوں اور اشیاء پر بڑی شرطیں لگائیں۔ لیکن وہ پرانے زمانے کے اسٹاک چننے میں بھی مصروف تھے، بنیادی حفاظتی تجزیہ کے ذریعے کمپنیوں کی تحقیق کرتے تھے۔

فوربس کے مطابق, the 68-year-old former hedge fund manager, who personal fortunate is estimated to be worth around $5.6 billion, is now managing his money through a family office (Duquesne Family Office LLC).

On May 26, The Hustle published an انٹرویو with Druckenmiller, in which he shared his latest thoughts on crypto. Below, we highlight some of his more interesting comments from that interview.

On Bitcoin ($BTC)

• He used to think that “crypto and Bitcoin are a solution in search of a problem”.
• As Bitcoin went “from like $50 to $17,000”, he refused to buy, hated the fact that he didn’t own Bitcoin as the price kept going up, and basically “felt like a moron”.
• Then, last year, near the start of the COVID-19 pandemic, when the Fed and other major central banks started going “nuts” with their money printing, he realized this was the problem that Bitcoin was designed to deal with.
• Another thing that had a major influence on him was legendary billionaire macro investor Paul Tudor Jones, informing him that “when Bitcoin went from $17,000 to $3000”, 86% of those that owned it at $17,000 “never sold it”. This got Druckenmiller to look at Bitcoin as “something with a finite supply” where “86% of the owners are religious zealots”.
• Then, finally, around the middle of last spring, Druckenmiller FOMOed into Bitcoin, but he found buying Bitcoin in the kind of quantity that made sense to him (around $100 million worth) much more difficult than doing a similar thing with gold, and so “like an idiot” he “stopped buying it”, and the next thing he knew, the Bitcoin price had reached $36,000.
• Since his “heart’s never been in it”, he sold some of his Bitcoin holdings in order to recover his costs, and kept the remaining amount.
• Recently, he discovered that Palantir Technologies (NYSE: PLTR), which the Duquesne Family Office is a major shareholder of, “has announced that its going to start accepting Bitcoin” and that in fact this kind of adoption of Bitcoin is “happening all over the place”.
• As for the future, he thinks that “as long as Jay Powell keeps acting like he’s been acting” gold and Bitcoin are “going to have the wind behind them”.

On Ethereum ($ETH)

• Druckenmiller believes that Bitcoin has “has won the store of value game” against Ethereum because it is “a brand”, “it’s been around for 13-14 years”, and “it has a finite supply”.
• Although he accepts that Ethereum is leading smart contracts platform, he is not sure how long it will be be able to maintain this position, and says that Ethereum reminds him of “Yahoo before Google came along”.

On Dogecoin ($DOGE)

• Druckenmiller likens retail investor interest in Dogecoin to the NFT craze and says that in both cases this is “a manifestation of the craziest monetary policy in history”. He can’t see the point of Dogecoin since (unlike with Bitcoin) “there’s no limit on supply”.
• However, he is too afraid to short DOGE because he doesn’t like to get burned. So, he just tries to “pretend Doge doesn’t exist”. And he has no FOMO whenever he sees DOGE going up; he just laughs.

ڈس کلیمر

مصنف، یا اس مضمون میں مذکور کسی بھی لوگوں کے خیالات اور آراء کا اظہار صرف معلوماتی مقاصد کے لیے ہے، اور وہ مالی، سرمایہ کاری، یا دیگر مشورے پر مشتمل نہیں ہیں۔ کرپٹو اثاثوں میں سرمایہ کاری یا تجارت کرنا مالی نقصان کے خطرے کے ساتھ آتا ہے۔

Source: https://www.cryptoglobe.com/latest/2021/06/legendary-investor-stanley-druckenmiller-on-bitcoin-ethereum-and-dogecoin/