The famous hedge fund manager Paul Tudor Jones (Paul Tudor Jones) updated his views on Bitcoin. He envisioned a bullish future similar to “You own a metal complex of precious cryptocurrencies”, and he said that given all the “possibility”, $500 billion is the wrong market value of Bitcoin. He hopes that the path forward for Bitcoin from here is the “North”.
Paul Tudor Jones predicts that the price of Bitcoin will reach the “North”
In an interview with Yahoo Finance on Thursday, Paul Dudd Jones was again asked about Bitcoin. The founder of the asset management company Tudor Investment Corp. became famous after predicting and profiting from the 1987 stock market crash.
He wrote in May that Bitcoin is a good inflation hedging tool and revealed that he invested 2% of his investment portfolio in cryptocurrencies, which attracted the attention of the crypto community. Jones later stated that he believes Bitcoin has huge upside.
Jones admitted in an interview with Julia La Roche of Yahoo Finance on Thursday that he is “by no means a Bitcoin expert.” However, the billionaire hedge fund manager said:
With a market value of 500 billion US dollars, this is a wrong market value. In this world, you have a market value of 90 trillion US dollars in stocks, and God knows how many trillions of fiat currencies and so on.
He added: “So compared to gold, this is the wrong market value of 8 or 9 trillion U.S. dollars.” “Bitcoin reminds me of many Internet stocks in 1999 because the Internet is still in its infancy. Because of infinite existence No one knows how to value it.” Bitcoin’s current market value is approximately $350 billion.
Jones continued: “You can be sure that about 20 years from now, our children and grandchildren, in any case, all of us will use some type of digital currency. Every sovereign country will use digital currency. They You may have your own digital currency, anyway. At that time, they will be very, very common. Cash may be gone. So in that world, Bitcoin and some other cryptocurrencies are suitable for Bitcoin or Tether [fit in]. I do not know. I am not smart enough to figure it out. “
He elaborated: “If I really have to guess what the future will be. This will be very similar to the metal complex of your valuable cryptocurrency. It could be Bitcoin. It is the first in such a compressed world Cryptocurrency, the first mover. It has the historical integrity of the digital currency that it will always have.”
Jones further pointed out: “Because of the limited quantity, this may be precious cryptocurrency. Then you will have trading cryptocurrencies and sovereigns. And they may be more like industrial metals. Therefore, if you own gold as a precious metal, then you You have…and industrial metals such as copper, platinum, palladium, etc. You may own precious cryptocurrencies, or you may own industrial cryptocurrencies.”
He clarified: “What I know is that it is impossible to know what will happen in the next 10 or 20 years.” Nevertheless, he shared: “If I have to hold this position, I will name it as the brand name Bitcoin .”
I will assume that it has various possibilities that the price is incorrect. Also, I will assume that the path forward from here is north.
“To be sure, you will see sovereign nations fighting back with private cryptocurrencies all the way… I think cryptocurrencies will fly wildly along the way. But my guess is that 20 years from now, especially Things like Bitcoin will be much more difficult than it is now. Who knows what role it plays in the monetary system,” Jones concluded.
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