Bitcoin News and Finance Billionaire Paul Tudor Jones: ‘It’s Hard Not to Want to Be Long Crypto’ Skip to main content

Billionaire Paul Tudor Jones: ‘It’s Hard Not to Want to Be Long Crypto’

Billionaire Paul Tudor Jones Expects Bright Future for Crypto — Says 'It's Hard Not to Want to Be Long Crypto'

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.

Comments

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl...

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju...

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and...

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r...
Blogarama - Blog Directory