Druckenmiller: Dollar out. Crypto in.

Happy Tuesday, Blockfolians

The Lede

If last year taught us anything, it’s that prominent investors can shift the narrative. Remember Paul Tudor Jones and his “Great Monetary Inflation” thesis? You know, the thesis that set the intellectual foundation for the institutional Bitcoin trade?

Well, this year, it looks like fellow hedgie legend Stan Druckenmiller is looking to set the tone. In an Op-Ed in the Wall Street Journal and via an appearance on CNBC, Druckenmiller called the Fed’s current economic policy the most radical and disconnected from underlying economic reality he’s seen. He argued that it’s sending us straight towards debt monetization and, within the next 15 years or so, the end of the US dollar as the world’s reserve currency.

So what does he think will replace it?

Not the Euro, nor the RMB. Nope, he thinks crypto has the best chance.

How about that?

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Highly Relevant Reading

  • NFTs are coming to eBay

  • Palantir now accepts BTC payments and is considering a treasury allotment

  • Coinbase is number one in the Apple app store for the first time since 2017

  • Remember EOS? How about $10B for an EOS powered exchange?


Community Commentary

So this happened
We may be leaving the arena of easy comparisons to last cycle

A Really Big Number We Should Be Paying Attention To

$5.9m from $17

That’s the gain for one $SHIB holder


Final Thought

Few.