The well-known Wall Street billionaire has said he appreciates Bitcoin „more now than then“, referring to his May investment
Paul Tudor Jones, a well-known Wall Street billionaire and investor, said he appreciates Bitcoin Compass „more now than then“, referring to his initial investment in May this year.
Jones praised Bitcoin during CNBC’s Squawk Box broadcast, revealing that he has „a small one-percent investment“ in cryptocurrency.
The reason for his investment remains unchanged: in his opinion Bitcoin is an excellent hedge against dollar inflation, which is expected to increase in the coming years due to the continuous interventions of the US central bank.
Bitcoin, points out Jones, is one of the best „inflation trades“ on the market, superior even to traditional assets such as gold, treasury bonds, copper or other more complex strategies.
„Bitcoin has this huge contingent of extremely intelligent and sophisticated people who believe in it. It’s like investing in the early stages of Steve Jobs and Apple, it’s like investing in Google,“ Jones commented.
Paul Tudor Jones is an industry veteran who became famous for correctly predicting the stock market crash in 1987 and went down in history as Black Monday. The BTC community appreciated Jones‘ support, and some even predicted that he will become the leading Bitcoin holder in the future.
According to Karen Finerman, CEO of Metropolitan Capital Advisors, Jones‘ interest in Bitcoin will pave the way for many other major institutional investors:
„No one wants to be ‚the one who bought Bitcoin‘ in case the cryptocurrency falls apart. But if you can say that Jones owns it too, maybe this offers more credibility.“
Microstrategy has decided to change the composition of its investments in response to recent global economic turbulence, trying to focus on assets that can play the role of a long-term reserve of value.
But after considering various possibilities 100 years from now, Saylor decided that Bitcoin was the only option. In his opinion, taxes and commissions kill almost all other assets, while those that don’t suffer this fate are paralyzed because they are controlled by a CEO, the government or an individual country.
Bitcoin, on the other hand, is evolving, and over time it becomes more and more robust, strong and fast. Saylor described it as „a hive of cybernetic hornets protected by a wall of encrypted energy“.