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The BitMEX CEO expects investors to follow Paul Tudor Jones’ example with Bitcoin

May 9, 2020

Paul Tudor Jones, a legendary hedge fund investor, sparked massive excitement in the cryptocurrency markets yesterday, revealing that Bitcoin (BTC) is part of his portfolio. Traders and industry players like the CEO of BitMEX hope that the move will attract larger investors to the market.

According to Arthur Hayes, CEO of the second largest cryptocurrency exchange in the world, BitMEX, Jones has just eliminated the professional risk of investing in cryptocurrencies like Bitcoin. “Many beta fund managers are expected to start copying and pasting something.” tweeted Hayes on May 7th.

Jones paves the way for other hedge fund managers to deal with Bitcoin

Hayes isn’t the only one who believes that more institutional investors will follow the Jones method to hedge inflation risks. On May 7, CNBC bitcoin ballerista Brian Kelly or BK and CNBC’s fast money traders discussed the potential impact of the billionaire’s Bitcoin news.

The BitMEX CEO expects investors to follow Paul Tudor Jones’ example with BitcoinThe BitMEX CEO expects investors to follow Paul Tudor Jones’ example with Bitcoin

Karen Finerman, co-founder and CEO of Metropolitan Capital Advisors and panelist at CNBC Fast Money, also believes Jones is paving the way for more hedge funds and top investors to get into Bitcoin. Finerman noted that people will feel safer buying Bitcoin after Jones invests in it:

“Nobody wants to be kicked out of Bitcoin if it falls apart completely. But if you can say that Jones owns it, it might cover you a little. “

Bitcoin has a higher advantage than gold, says Brian Kelly

Jones said Bitcoin reminded him of the crucial role that gold played in the economic crisis of the 1970s. According to BK from CNBC, both Bitcoin and gold can have a limited supply due to their common features such as. However, the CNBC Bitcoin analyst says Bitcoin will play a bigger role in the current environment due to its digital and mobile nature. Kelly also noted that Bitcoin has a “much bigger advantage” and better reward risk.

On May 2, the major U.S. cryptocurrency exchange Coinbase released a report arguing that the pandemic crisis would make Bitcoin superior to gold.

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