Billionaire investor Stanley Druckenmiller expressed his regrets about not buying Bitcoin (BTC) early enough.
“I just couldn’t stand the fact that it was going up and I didn’t own it,” he said in an interview with Hustle.
For the first move in Bitcoin—I think from like $50 to $17,000—I just sat there aghast. And […] I wanted to buy it every day. It was going up and—even though I didn’t think much of it—I just couldn’t stand the fact that it was going up and I didn’t own it,” Stanley continued.
The 68-year-old is worth over $5 billion and is regarded as one of the most successful investors of all time.
Stanley eventually bowed to pressure and bought $20 million worth of Bitcoin.
“It took me 2 weeks to buy $20 million. I bought it all around $6,500, I think. And I said, ‘this is ridiculous.’ You know, it takes me two weeks. I can buy that much gold in 2 seconds,” he lamented, adding, “So like an idiot, I stopped buying it. The next thing I knew, [Bitcoin] is trading at $36,000.” the wealthy investor confessed.
“My heart’s never been in it. I’m a 68-year old dinosaur, but once it started moving and these institutions started upping it, I could see the old elephant trying to get through the keyhole and they can’t fit through in time,” he stated.