Druckenmiller’s $77M Bet Boosts Figure Technologies Shares
Shares of Figure Technologies surged as much as 15% after Duquesne Capital founder Stanley Druckenmiller disclosed a $77 million stake in the blockchain-based lender. According to a latest 13F filing, Druckenmiller added over 2.1 million Figure Technologies shares in Q3, representing about 1.9% of his portfolio. Analysts at Bank of America, Mizhou and Piper Sandler raised price targets, citing Figure Technologies’ shift to a capital-light home equity line of credit (HELOC) model powered by AI and blockchain to reduce costs. In its Q3 report, Figure Technologies said its Figure Connect platform will drive 60% of loan volume, up from 46% last quarter. The company also launched YLDS, a yield-bearing stablecoin on its Provenance blockchain, to capture digital-dollar flows. Since its September IPO, Figure Technologies stock is up 44%, outperforming other crypto-linked firms amid a broader market slump.
Bullish
Stanley Druckenmiller’s high-profile $77 million stake and subsequent analyst price-target upgrades signal strong bullish momentum for Figure Technologies and the broader blockchain lending sector. Institutional endorsements have historically driven equity gains in crypto-related firms, as seen with Coinbase’s IPO and major enterprises adding Bitcoin reserves. In the short term, this disclosure is likely to trigger buying pressure on Figure Technologies shares and peer issuers. Over the longer term, successful execution of the capital-light HELOC model and adoption of the YLDS stablecoin could validate Figure’s business model, attract further institutional capital, and sustain sector growth.