Stanley Druckenmiller acquires $23M stake in company holding Hyperliquid tokens

Stanley Druckenmiller’s Duquesne Family Office picked up roughly 2.94 million shares of Hyperliquid Strategies Inc. (NASDAQ: PURR), a position worth $23.15 million as of June 30, 2026, according to the firm’s Q2 2026 13F filing. The full crypto allocation The PURR stake wasn’t a one-off curiosity. Duquesne’s filing revealed a total crypto-related equity allocation of approximately $87.8 million across two positions. The larger of the two is a $64.7 million stake in Bitdeer Technologies (NASDAQ: BTDR), a Bitcoin mining firm. The PURR position accounts for roughly 0.44% of Duquesne’s overall portfolio. What Hyperliquid Strategies actually does Hyperliquid Strategies operates as a digital asset treasury vehicle designed to accumulate and stake HYPE tokens, the native asset of the Hyperliquid protocol. As of late April 2026, the company reported holding 20 million HYPE tokens alongside $103 million in cash reserves. The underlying protocol runs an on-chain perpetual futures exchange that has been generating north of $900 million in annual protocol fees. Daily trading volume routinely crosses into the billions. HYPE’s market capitalization currently sits in the $18 billion to $20 billio...