The argument that the dollar is losing prestige worldwide got a major boost from a legendary investor.
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Last year, hedge fund gurus like Paul Tudor Jones set off the wave of institutional bitcoin buying by cementing the narrative of bitcoin as an inflation hedge. Today, one of those investors – Stanley Druckenmiller – is back with even more dire pronouncements about the likely implication of Federal Reserve policies. The dollar, he says, will lose reserve currency status in the next 15 years. The most likely candidate to replace it? Crypto.
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