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A macro investor who apparently is an expert in managing hedge funds and trading liquid assets, Paul Tudor Jones, yesterday, made a jaw dropping revelation when he said that Bitcoin is a part of his investment plan.
Jones is the founder and CEO of Tudor Investment Corp. and has made this decision keeping in mind the upcoming inflation.
Following his revelation, he added that he is neither a hard-money nor a crypto nut but one major reason for his interest in the coin is the upcoming currency digitization and also said that according to his criteria of purchasing power, trustworthiness, liquidity and portability, bitcoin matches all four of them and thus makes it a even better investment deal.
Following Jones’ revelation many experts and industrialists of the crypto world as well as investors of the market gave their honest opinions and majority of them revealed that this could be a major turnover for BTC as Jones’ interest in bitcoin will surely arouse the interest of many big time investors.
The CEO of BitMEX, which is the second largest crypto exchange, Arthur Hayes said that the decision is wise and beneficial for both Bitcoin as well as Jones as investing in crypto like Bitcoin will prevent him from the upcoming inflation risks and career challenges.
On May 7, Hayes tweeted, “Expect a lot of beta fund managers to begin cooking some copypasta.”
Jones- the way for Investors towards Bitcoin
However, surprisingly Hayes is not the only one who thinks so. CEO and Co-founder of Metropolitan Capital Advisors and CNBC Fast Money panelist, Karen Finerman also believes the same.
Finerman highlighted the importance of the event from both the sides of Bitcoin as well as Jones saying, “Nobody wants to be left out owning Bitcoin if it completely falls apart. But if Jones owns it, that sure gives a little confidenc of owning it”
Bitcoin ranks higher than gold.
According to CNBC’s BK, both Bitcoin, as well as gold, have the capability of doing well in the current situation especially due to their similar features, Jones said that Bitcoin reminds him of the importance of the role played by gold in the economic crisis of the 1970s when he first started his trading career.
“Bitcoin reminds of gold when I first got into business in 1976,” he added. However, according to the CNBC Bitcoin Analyst, Bitcoin tends to play a better role and a role on a larger scale given the current economic condition given its virtuality and digital nature.
DID YOU KNOW? Jones’ Bitcoin investment could help Bitcoin reach its all-time high of $10,00,000
It was also outlined by Kelly that Bitcoin has a much higher upside and low-risk. Jones, however, claimed that he always has and will always be a fan of gold.
In another report by major US’ crypto exchange, published on May 2 by coinbase, it was mentioned that the oil crisis to has a tendency to give more superiority to Bitcoin than gold.