Billionaire Paul Tudor Jones Expects Bitcoin Price to Be ‘Much Higher’ Than Today

Billionaire hedge money manager Paul Tudor Jones says cryptocurrencies, specifically bitcoin and ethereum, volition beryllium “at a worth overmuch higher than wherever we are today.” Confirming that helium inactive owns bitcoin, the famed hedge money manager revealed that helium “always” has a tiny allocation of bitcoin successful his portfolio.

Famed Hedge Fund Manager Paul Tudor Jones Still Owns Bitcoin

Billionaire capitalist and renowned hedge money manager Paul Tudor Jones talked astir bitcoin and the U.S. system successful an interrogation with CNBC Monday. Jones is the laminitis of plus absorption steadfast Tudor Investment Corp. According to Forbes, his existent nett worthy is $7.5 billion.

Replying to a question astir bitcoin, its usage arsenic a hedge against inflation, and whether helium inactive has immoderate BTC, Jones said:

I’ve ever had a tiny allocation to it [bitcoin] … In a clip wherever there’s excessively overmuch money, to overmuch fiscal spending, thing similar crypto, specifically bitcoin and ethereum, that volition person worth astatine immoderate point.

“We’re going to person to person fiscal retrenchment,” helium further noted.

The billionaire was asked whether the crypto helium mentioned volition beryllium “at a worth overmuch higher than wherever we are today” Jones replied: “Oh yea I deliberation so.”

Jones has been pro-bitcoin for rather immoderate time. In May, helium said, “It’s hard not to privation to beryllium agelong crypto.” He antecedently said that helium preferred crypto implicit golden arsenic a hedge against inflation. He besides got his person Stan Druckenmiller into bitcoin. However, the billionaire president and CEO of Duquesne Family Office LLC precocious said helium nary longer holds BTC. Nonetheless, Druckenmiller said helium “could spot cryptocurrency having a large relation successful a Renaissance due to the fact that radical conscionable aren’t going to spot the cardinal banks.”

Paul Tudor Jones connected the U.S. Economy and Recession

Jones besides shared his presumption connected the U.S. economy. Replying to a question astir whether we are successful a recession, helium said:

I don’t cognize whether it started present oregon it started 2 months ago. We ever find retired and we are ever amazed astatine erstwhile recession officially starts, but I’m assuming we are going to spell into one.

The billionaire added: “Most recessions past astir 300 days from the commencement of it. The banal marketplace is down, say, 10%. The archetypal happening that volition hap is abbreviated rates volition halt going up and commencement going down earlier the banal marketplace really bottoms.”

Jones further opined:

Inflation is simply a spot similar toothpaste. Once you get it retired of the tube, it’s hard to get it backmost in. The Fed is furiously trying to lavation that sensation retired of their mouth. … If we spell into recession, that has truly antagonistic consequences for a assortment of assets.

What bash you deliberation astir the comments by Paul Tudor Jones? Let america cognize successful the comments conception below.

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