US billionaire hedge fund manager Paul Tudor Jones (Paul Tudor Jones) has recently become more bullish on Bitcoin. He announced that cryptocurrency is the best safe haven against inflation, and compared the current investment in Bitcoin with early technology stocks such as Apple and Google. He said: “I think we are in the first game of Bitcoin with a long way to go.”

Paul Tudor Jones is increasingly bullish on Bitcoin

In an interview with CNBC Squawk Box on Thursday, Paul Tudor Jones explained why Bitcoin is now more bullish. Jones founded Tudor Investments, an asset management company headquartered in Stamford, Connecticut. After predicting and profiting from the 1987 stock market crash, he became famous.

The billionaire investor revealed on the May show that he had invested about 2% of his assets in Bitcoin, which attracted the attention of the crypto community. Now, four months later, the price of Bitcoin has risen by more than 46%, and there has been a series of good news. For example, Paypal recently announced that it supports cryptocurrencies including Bitcoin on its platform.

Someone asked Jones whether these developments changed his decision to invest in Bitcoin, especially whether he bought more Bitcoin or sold some Bitcoin. He clarified by reiterating why he likes Bitcoin and recommending it to his customers earlier this year. He explained: “As early as March and April, given the Fed’s monetary policy, the incredible quantitative easing policy they are taking, and the measures that other central banks are taking, this has indeed become unprecedented.” He pointed out, The Covid-19 pandemic has brought other problems. “People must start thinking about how to defend against inflation.” The Fed also announced a major policy adjustment to push up inflation.

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The founder of Tudor Investment Corp. went on to explain that he recommends Bitcoin as an inflation transaction, such as gold, copper, S&P GSCI commodity index, and a longer yield curve. He added:

My conclusion is that Bitcoin will become the best in the inflation industry and the defensive industry you will adopt.

He then outlined why Bitcoin is better at hedging inflation than other assets.After examining the overall market value and the characteristics of all inflation transactions, he said that Bitcoin “has very few people invest in it. It is portable, easy to liquidity, and has many characteristics that make it an excellent currency. Inflation hedging tool.” Jones pointed out “one thing [bitcoin] He emphasized, “Of course, it will benefit every day because it does not have integrity and long-term staying power. It has gained credibility and integrity.”

The billionaire hedge fund manager admitted that when he stated that he invested about 2% of cryptocurrency in May, he did not appreciate the value of Bitcoin. He admitted: “I am not grateful. Now I know what it feels like to be a technology investor. Remember, I don’t really buy or sell individual stocks.” Jones asserted that he was just a “macro trader” and he asserted:

Bitcoin has many of the characteristics of being an early investor in technology companies…such as investing in Steve Jobs and Apple, or investing in Google as soon as possible.

Jones further revealed: “I have a small unit investment in Bitcoin. That’s it. I am not the standard bearer of Bitcoin.”

After recommending Bitcoin and revealing his position in May, Paul Tudor Jones said that he was “surrounded by God and knew how many people used Bitcoin.” He admitted that he was at the time. Don’t know yet, but he said: “But what I learned is that, to my surprise, Bitcoin has such large, really, very smart and smart people, trust them.” He explained that Bitcoin has come from the world Supporters everywhere, they are “committed to making Bitcoin a successful ordinary store of value, and successful transactions at a very basic level.”

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He declared that he “never had an inflation hedge because it had no kicking power and no strong intellectual capital,” he said, which “made me more constructive with Bitcoin.” Jones concluded:

I like Bitcoin more now than before. I think we are in the first game of Bitcoin, which is still a long way away.

What do you think of Paul Tudor Jones’ Bitcoin proposal? Let us know in the comments section below.

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