Paul Tudor Jones on bitcoin: It's like investing early in a tech company

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Paul Tudor Jones on bitcoin: It's like investing early in a tech company 5

Billionaire hedge fund manager Paul Tudor Jones has turned more bullish on bitcoin, calling it the best inflation hedge.

“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 said on CNBC’s “Squawk Box” on Thursday. He first revealed his bitcoin investment in May and he said Thursday he holds a “small single-digit investment” in the cryptocurrency.

The longtime trader believes the unprecedented quantitative easing from the Federal Reserve is setting the stage for inflation to make a grand comeback.

“The reason I recommended bitcoin is because it was one of the menu of inflation trades, like gold, like TIPS breakevens, like copper, like being long yield curve and I came to the conclusion that bitcoin was going to be the best inflation trade,” Jones said.

Bitcoin has fully rebounded from its coronavirus lows in March. The digital coin on Thursday hit its highest level since January 2018 to trade at around $12,900. The strength this week largely came from the news that PayPal will allow its users to buy, hold and sell cryptocurrencies.

The founder and chief investment officer of Tudor Investment Corporation also compared investing in bitcoin to putting money behind some of the biggest tech companies like Apple and Google.

“Bitcoin has this enormous contingence of really, really smart and sophisticated people who believe in it,” Jones said. “It’s like investing with Steve Jobs and Apple or investing in Google early.”

Jones shot to fame after he predicted and profited from the 1987 stock-market crash. He is also the chairman of non-profit JUST Capital, which ranks public U.S. companies based on social and environmental metrics.

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💬 Comments

Bitcoin is the future, Investing in it now will be the wisest thing to do

Author — Ben Richard


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Author — jack


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Author — Eric James


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Author — Thinking Crypto


Good video, I'm kinda motivated with it, I invested in bitcoin and its and it's favorable to me

Author — benson lugaurd


the question is when does it burst
anyone else saw the bottom on the 10yr??👌👌

Author — Max _


Shepard Smith should change his name to corruption Inc

Author — Green-Grounds


I'll advice everyone to invest in stuffs like penny stocks and cryptos. It can generate short term profits for you. This ain't stopping anytime soon, just the beginning of the great recession

Author — Bobal Malik


There are some incredibly bright people in this space. It’s undeniable. I have met some people in the crypto space that I have had to ask myself if they are part human part AI. Case in point: vitalik buterin (yes I have met him, several times actually)

Author — jesus gonzalez


Don't get left behind. Just take a second and youtube all the things you don't understand about investing in bitcoin and then invest! One day people will be wishing they bought at these prices just like they always have. Even if you know you're not going to invest, it's worth looking in to. Just remember that the internet it self was at one time laughed at and not understood. Thanks for your time. Long live Bitcoin.

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Author — Alex Madison


Can someone help?. My English its not so good, I just lost the last phrase. "We are in the first .... of bitcoin..."

Author — guilherme


imagine trying to bet against Paul Tudor Jones

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Author — Hannah Monroe


unfortunately this scares me because it is big money making a statement but I am still holding

Author — SLiMBOiU


Mr. 2Door Jones III is very kind.
But some smart and sophisticated internet user should tell him it's not pronounced Bitcoin.
It's Bitcone.

Author — Peter Petrov


Mr Jones makes a great point. Ridiculously smart people work in the bitcoin space and just by owning a piece of this protocol you leverage all of that intellectual capital.

Author — Sean Linn


I love your video, The real investors know that bitcoin is set to make a big upswing move and the hopes that the digital asset would read $14000 above this coming november is not far fetched anymore but very feasible.

Author — Bob Michael


Who really wants all of their money in one place? Virtual money? I get the idea of block chain but when I go to my atm and my only form of payment is blocked? Not so sure I'm cool with that.

Author — Mike Williams