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

  • 🎬 Video
  • ℹ️ Description
  • UCrp_UI8XtuYfpiqluWLD7Lw
Paul Tudor Jones on bitcoin: It's like investing early in a tech company 5
UCrp_UI8XtuYfpiqluWLD7Lw


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.


Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide.


Connect with CNBC News Online



#CNBC
#CNBCTV

💬 Comments
Author

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

Author — Ben Richard

Author

If you understand the future then you will know bitcoin is becoming the future value, i keep making cool profits from bitcoin investment even though i barely trade my self.

Author — jack

Author

Bitcoin as a side hustle pays more than most jobs!!!!. My sincere advice as a single mom is to buy more coins and hold hold hold. Bitcoin can and will make you a millionaire.

Author — Anna Ken

Author

The recent trend is the fact that cryptocurrency traders can never be poor, cryptocurrency is the best form of investment anyone can carry out now. Sometimes when we have that specific money that we want to invest in a particular thing, we always focus on losing and then investing or spending money wrongly. One reason you need to invest in crypto and its technology is because; Crypto is changing the shape of the economy of any nation that approaches technology and that way being an early adopter gives you an edge over others that will buy into it late. While looking at the growth rate of cryptocurrency and the opportunity it presents, why not look into it and have a rethink about the particular investment you wish to make now. Bitcoin has changed my life because I invest in the right way and one thing that gives me joy is because I also learn the concept of trading from a pro to accumulate and hold more bitcoin. Why worry about watching so many YouTube videos without getting the right information you are looking for. Let a pro tutorial show you how to get started on your crypto journey the right way. Using my first month of Steven Dunn's strategies and signals, I profit up to 400%. My 2.5BTC gave me a return of up to 9BTC. Looking into this month as well, do you have any plans to achieve? I urge you to contact (Steven Dunn ) for all your cryptocurrency questions and answers on how to get started, you can contact steven dunn through telegram @stevendunn471 or whatsapp +15162001939 for assistance and guidance on trading

Author — Eric James

Author

Buy Bitcoin Now guys, new all time highs are coming! Great opportunity to make a great return!

Author — Thinking Crypto

Author

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

Author — benson lugaurd

Author

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

Author — Max _

Author

Shepard Smith should change his name to corruption Inc

Author — Green-Grounds

Author

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

Author

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

Author

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.

Author — Stefan Mirrors

Author

It is estimated that over 40, 000 to 300, 000 people have made a massive one million dollars in bitcoin investments either through mining, trading or holding for profits pending on the type of broker involved. For every investment to yield earnings a professional broker should be involved. Mrs Anna Tyler is a professional broker who manages, handles, and gives guidance on investments to get good profits

Author — Alex Madison

Author

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

Author — guilherme

Author

imagine trying to bet against Paul Tudor Jones

Author — Danny Nguyen

Author

The cryptocurrency market has made a lot of people very wealthy over the past decade. However, due to the volatile nature of the prices of digital currencies, it is understandable that many people, especially new traders, are hesitant to trade cryptocurrencies. The good news is that now, there are many trading tools, such as trading signals, automated trading software and more, that enable traders to trade Bitcoin and other cryptos profitably. i have been trading with Steven Dunn, a pro trader who has helped me accumulate over 4.5 BTC for the past 3 weeks with just my starting 0.7BTC can equally help you achieve that. If you are a trader or a newcomer to the cryptocurrency space, this is the right time for you to hold more bitcoin now, and with the help of Steven Dunn, you won't regret your actions, You can reach him via WhatsApp (+15162001939), Telegram (stevendunn471) ...

Author — Hannah Monroe

Author

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

Author — SLiMBOiU

Author

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

Author

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

Author

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

Author

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