equitieswatch
Friday, January 20, 2023
About us
Advertise
  • Home
  • Stock Market
  • Finance
  • Cryptocurrency
  • Commodities
No Result
View All Result
Equitieswatch.com
No Result
View All Result

‘It’s Hard Not to Want to Be Long Crypto’ – Featured Bitcoin News

by equitieswatch
May 4, 2022
in Cryptocurrency

YOU MAY ALSO LIKE

BTC Below $20,000, ETH Slips Under $1,000 – Market Updates Bitcoin News

Bitcoin Breaches $19K Level – Will Selloff Continue? What’s The Next Bottom?

Billionaire hedge fund manager Paul Tudor Jones expects crypto to have a bright future as the Fed hikes interest rates to fight inflation. The famed investor emphasized, “It’s hard not to want to be long crypto.”

Famed Hedge Fund Manager Paul Tudor Jones on Bitcoin, Crypto

Billionaire investor and renowned hedge fund manager Paul Tudor Jones talked about bitcoin in an interview with CNBC Tuesday. Jones is the founder of asset management firm Tudor Investment Corp.

“I see this generational divide and it’s a digital divide,” the billionaire said. “If you look at the smartest and brightest minds that are coming out of colleges today, so many of them are going into crypto, so many of them are going into the internet 3.0,” he noted, adding:

It’s hard not to want to be long crypto because of the intellectual capital, just the sheer amount of intellectual capital that’s going into that space.

“Clearly, if you think about the ultimate dream of crypto, it’s a borderless internet where all of a sudden, you have blockchain as the verification code to allow anyone on the internet to instantly connect because the blockchain verifies who they are and then that opens up just huge possibilities,” Jones detailed.

The Tudor Investment founder opined: “Clearly, central banks and central governments are not going to necessarily be huge fans of that, particularly when it comes to using crypto as a medium of exchange.” He warned:

That’s the number one thing that’s holding it back … the fact that you’re not going to get buy-ins from governments because they lose the ability to control the creation and the supply of money.

Nonetheless, Jones noted that “in a world where we’re starting to de-globalize,” the ability to have the borderless internet and a store of value outside of fiat currencies “becomes very attractive.”

He then shared: “I’ve got my modest allocation to crypto. I have a trading position on top of that, that goes from fully invested to zero, and I’d say right now I’m modestly invested.” Regarding his future outlook for crypto, he said:

I would think that it’s going to have a bright future as we roll through these rate hikes at some point in time, a lot of it depends on what our central bank does. A lot of it depends on how serious we are about fighting inflation.

Jones was among the first traditional hedge fund managers to recommend bitcoin in portfolios. In October last year, he said he preferred crypto over gold as a hedge against inflation. He previously likened BTC to investing in early tech stocks like Apple and Google.

What do you think about Paul Tudor Jones’ comments? Let us know in the comments section below.

Kevin Helms

A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.




Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

More Popular News

In Case You Missed It



Source link

ShareTweetPin

Search

No Result
View All Result

Recent News

Oil slips further on demand, financial market worries By Reuters

Oil Sinks Further Amid China Concerns, Weakened Economic Prospects By Investing.com

October 25, 2022
Gold Up, Set for Second Weekly Gain as Dollar Falls from 20-Year High By Investing.com

Gold Pressured Near $1,650, Copper Muted on Economic Fears By Investing.com

October 25, 2022
Explainer-What would be the impact of Russian oil sanctions in Europe? By Reuters

Oil prices edge higher as U.S. dollar eases By Reuters

October 25, 2022
Equitieswatch.com

Equitieswatch.com is your Stock Market, Finance, Forex, Cryptocurrency, Business, NFT News Website. We provide you with the latest breaking news and videos straight from the Business industry.

  • Home
  • About us
  • Contact
  • Privacy Policy

© 2022 www.equitieswatch.com

No Result
View All Result
  • Home
  • Stock Market
  • Finance
  • Cryptocurrency
  • Commodities

© 2022 www.equitieswatch.com