Paul Tudor Jones is a legendary investor who currently manages Tudor Investment Corp. He rose to prominence in 1987, when he predicted a collapse in the equities markets. Jones also works as the chairman of Just Capital, which classifies US firms based on communal and environmental standards. Jones is a respected figure in the investment world, and many people from across the globe are imitating his strategies.
Jones first entered the Bitcoin market in 2017, but he exited after he doubled his invested. In May of 2020, he started advocating for Bitcoin again. At the time, he discussed the aggressive money printing policies of central banks as a reaction to the COVID-19 and called them the “Great Monetary Inflation”. Jones claimed:
“We are witnessing the Great Monetary Inflation — an unprecedented expansion of every form of money, unlike anything the developed world has ever seen”.
Paul Tudor Jones is bullish on bitcoin
Jones was recently interviewed by CNBC and expressed his bullish instance of Bitcoin. He reiterated that considers BTC as a haven against the quantitative easing policy of central banks. Jones also said he thinks Bitcoin plays an important role in maximizing the yield of his fund. He sees Bitcoin investment similar to investing in high-profile stocks like Apple.
Now, Bitcoin’s price action is in a good position as BTC has made a tremendous recovery from its March lows. PayPal made headlines in October when it authorized its users to purchase, sell and hold crypto. It was a massive piece of news, and it attracted a lot of attention from experts and large firms. After PayPal’s entrance to crypto space, many finance giants have started to take cryptocurrencies much more seriously.
Paul Tudor Jones pointed to the fact that a lot of smart people are in the Bitcoin space. Earlier, he had talked about some fundamental properties of bitcoin, and the scarcity of this currency attracted him. Bitcoin has a limited supply, and only 21 million bitcoins will be available at the end. No one can print bitcoin more than this determined supply, and a central authority does not control it.
Jones has his reasons for suggesting Bitcoin as an investment. He compared Bitcoin to assets like copper and gold, and he even thinks Bitcoin can be valuable than these kinds of assets. We can transfer bitcoin around the world very rapidly, and we can easily divide it into smaller units called Satoshi.
In the interview, he revealed that his view on Bitcoin become even more bullish than before:
“I like bitcoin even more now than I did then. I think we are in the first inning of bitcoin, and it’s got a long way to go.”
Jones thinks the quantitative easing policy and the COVID-19 pandemic will prepare a background for inflation to increase. We’ve seen unprecedented money printing activity by central banks lately, and it will have its consequences. Conversely, Bitcoin is a store of value that has deflationary properties baked right into its code.
