American billionaire investor, hedge fund manager Stanley Druckenmiller finds that cryptocurrencies can solve problems created by the Fed’s controversial policy at the time of the global pandemic. He noted that the dollar is at the risk to lose its global reserve currency position. The dominance of other fiat currencies released by central banks may also fall.
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This is the situation where cryptocurrencies are of great use. In one of his recent interviews with CNBC, Druckenmiller noted he couldn't recall any point in history when monetary policy was this out of line. The entrepreneur finds that in the case of continuous debt monetization dollar may lose its reserve currency status in 15 years.
He also noted BTC will likely dominate the rest of cryptocurrencies as a store of value asset.
Earlier Druckenmiller announced having some BTC, although his approach to the cryptocurrency isn't certain.Meanwhile, US SEC chairman Gary Gensler said today that cryptocurrencies need caution from investors as they are highly volatile.