Legendary Hedge Fund Manager Says Bitcoin Is the Ultimate Inflation Hedge
Paul Tudor Jones says investing in Bitcoin is an inflation hedge with intellectual capital behind it
- Paul Tudor Jones has been actively investing, trading, and managing billions of dollars since 1980.
- Reuters has described him as a legend of macro traders.
- Paul Tudor Jones is a “single-digit” Bitcoin investor and his investment has gained 42% in value since May 2020.
- The hedge fund manager says investing in Bitcoin is an inflation hedge with intellectual capital behind it.
Billionaire hedge fund manager Paul Tudor Jones appeared on CNBC’s “Squawk Box” on Oct. 22, where among other topics, he also discussed Bitcoin.
Last May, Paul Tudor Jones made a single-digit investment into Bitcoin, and he backed up his decision by saying that he likes Bitcoin even more now.
The legendary hedge fund manager compared Bitcoin to being an early investor in a tech company. However, instead of betting on humankind’s ingenuity and entrepreneurialism, with Bitcoin, you bet on humanity’s fallacies to keep on creating inflationary economics.
Talking about Bitcoin, he said:
“…you’ve got this group, that’s by the way, crowdsourced all around the world, that are dedicated to seeing bitcoin succeed and it becoming a commonplace store of value and transactional to boot. I’ve never had an inflation hedge where you have a kicker, that you also have great intellectual capital behind it, so that makes me even more constructive on it.”
He wrapped up his segment on the cryptocurrency by saying, “I think we are in the first inning of Bitcoin.”
Bitcoin has gained 42.126% since May 7th, when Paul Tudor Jones made his “single-digit” Bitcoin investment. In more recent times, Bitcoin’s price has grown by 21% in the past two weeks, and it is continuing to rise alongside uncertainty as we approach Election Day on Nov 4th.