At the beginning of the week, many well-known economists and analysts predicted Bitcoin would reach $100 and higher in 2024. In the past, many public guru predictions yielded results contrary to expectations. What matters more is not what a person says, but what they do. For example, Mike Saylor compared Bitcoin and gold in his portfolio. Saylor’s company bought its first Bitcoins on August 10, 2020. Since then, Bitcoin has shown a 333% increase in value, while gold has decreased by 1%. Another legendary investor, Stanley Druckenmiller, who was part of George Soros’s Quantum Fund, got rid of traditional tech stocks. He reported selling Alphabet (Google) shares worth $112 million during the last quarter after buying them in the third quarter of 2023. Previously, Druckenmiller had bought and sold these shares within the first and second quarters of 2023, respectively. Additionally, he sold shares of Amazon and Broadcom. However, Druckenmiller, who expressed his optimistic view on gold, made relatively small bets on two gold mining companies: Barrick Gold, the largest transnational gold mining company, and Newmont, another significant gold mining company, buying 1.76 million shares of the former and 474,000 shares of the latter. Druckenmiller’s bet might be somehow connected to his natural attraction to gold. In November, expressing his concern about the state of the U.S. economy, Druckenmiller said, “I’m 70 years old, I have gold. I like gold because it’s a 5000-year-old brand.” The acquisition of these two stocks, which have been suffering losses and showing low performance in the base commodity since the beginning of 2024, has drawn other investors’ attention to the sector. However, Druckenmiller’s biggest bet remains on artificial intelligence. He owns shares of Microsoft worth more than $400 million, a technology company that has invested over $10 billion in OpenAI, as well as in Nvidia, a company that has benefited from the use of its equipment and tools for artificial intelligence purposes. He also reported acquiring shares of Adobe and Arista. Besides Bitcoin and gold, real investors are putting a lot of money into AI. Even Sam Altman’s notorious shitcoin, Worldcoin (WLD), increased by 160% just a few days after the launch of the Sora product. This revolutionary technology creates movies indistinguishable from Hollywood productions based on textual descriptions. Moreover, with the help of third-party neural networks, it’s possible to add a soundtrack to any video, including music and sound effects that surpass those in real movies. Undoubtedly, this is one of the main technological breakthroughs of the decade, and now the need for costly filming and movie studios is eliminated. Anyone sitting at home in the evening with a computer can order a movie with a specific plot and even actors in leading roles, which Sora will make by the specified time. Now everyone can be their own Hollywood. Along with WLD, other AI project tokens, as well as shares of OpenAI, Nvidia, and other AI neural networks, have also increased.
