Main navigation

Billionaire Paul Tudor Jones Continues to Hold Bitcoin

Mon, 10/10/2022 - 14:26
article image
Alex Dovbnya
Hedge fund legend Paul Tudor Jones expects price of Bitcoin to increase substantially in future due to its scarcity
Billionaire Paul Tudor Jones Continues to Hold Bitcoin
Cover image via
Read U.TODAY on
Google News

During a recent CNBC interview, hedge fund legend Paul Tudor Jones says that he still has "a very minor" allocation in Bitcoin, the world's largest cryptocurrency. "I've always had a small allocation to it," he added.

Cryptocurrencies such as Bitcoin and Ethereum will have value "at some point" because of there is too much money. "I don't know when that will be, but it will happen." In fact, the billionaire believes that both cryptocurrencies will trade at much higher prices.

Jones revealed that he had bought Bitcoin in May 2020, calling it "great speculation." Last October, the billionaire said that crypto was winning the race against gold.

Macro uncertainty

Jones claims that a macro environment full of uncertainty is the best for investing.

Speaking of the U.S. Federal Reserve's rate hikes, their consequences remain largely unknown for now, according to Jones.

Ripple Keeps Hiring Amid Bear Market

Jones claims that the U.S. monetary policy was pretty straightforward all the way up to 2018. In 2020, however, the Fed went overboard with quantitative easing to shore up the economy during the pandemic, and it then moved to dial back its support at a rapid pace, which caused extreme volatility.

"Inflation is a bit like toothpaste. Once you get it out of the tube, it's hard to get it back in. The Fed is furiously trying to wash that taste out of their mouth," Jones said.

Over the past 12 years, there has been massive experimentation with monetary policy, Jones says. However, the central bank has now made a complete U-turn.

article image
About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at