Stanley Druckenmiller, who runs Duquesne Capital after previously working for Soros, now owns 2.88 million shares of SPDR Gold Trust, making it his largest single holding and long position.

That means if the price of gold goes up, Druckenmiller profits tremendously.

"Druckenmiller's [SPDR Gold Trust] stake had a value of $300.3 million at the end of the quarter based on the June 30 closing share price of $104.27," Business Insider reported. "Druckenmiller has previously said that when he sees something that really excites him he will 'bet the ranch on it.'"

Multiple financial experts, including Dr. Ron Paul and Peter Schiff, have warned of a coming economic collapse, and Schiff in particular said gold will rise in response to the Fed's non-stop creation of money called "quantitative easing" which devalues the dollar.

"We'll always have to do [quantitative easing] to offset the damage from the previous QE," Schiff told MarketWatch. "It's like trying to put out a fire with gasoline. That's all the Fed has—gasoline, and everyone expects the fire to go out. It can't go out."

"You need to be long gold and there is going to be a huge payday."

And that's exactly what Druckenmiller has done.