Famous Wall Street investor and billionaire Paul Tudor Jones said that he liked Bitcoin “even more than before”, referring to his Initial investment announced in May 2020.
Jones praised Bitcoin on the CNBC Squawk Box morning show, reveals that he has one “small single digit investment” in the asset.
Your investment thesis remains unchanged, Bitcoin is an excellent hedge against inflation that is expected to rise in the coming years due to central bank intervention. The unprecedented QE and balance sheet expansions, as well as the Federal Reserve’s more aggressive exposure to inflation, led to higher inflation expectations.
Bitcoin is one of the best, according to Jones “Inflation trading” versus traditional options such as gold, government bond inflation-protected securities, copper, and other more complex strategies.
“Bitcoin has this tremendous number of very, very clever and sophisticated people who believe in it.” Jones added. “It’s like investing early in Steve Jobs and Apple or investing in Google.”
Paul Tudor Jones is an industry veteran known for correctly predicting the 1987 stock market crash known as “Black Monday”. According to his previous statements, the Bitcoin community was thrilled with the support. Some predicted Jones would become soon to be the largest Bitcoin holder.
Some believe Jones’ endorsement could break the ice for institutional investors You can feel more confident investing in the asset class after big names have made the leap.