Advertisement
AD

Main navigation

Billionaire Paul Tudor Jones Continues to Hold Bitcoin

Advertisement
Mon, 10/10/2022 - 14:26
Billionaire Paul Tudor Jones Continues to Hold Bitcoin
Cover image via www.youtube.com
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.

Advertisement

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.

Related
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.

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement

Latest Press Releases

Is Bitcoin Mining Legal? Regions in the World Where Mining Is Legally Permissible
Zircuit, New ZK-Rollup Focused on Security, Launches Staking Program
AI Analysis Launches The AIA Mastercard – The Future of Crypto-Fiat Transactions
VAP Group hosts the majestic Global Blockchain Show 2024 in Dubai
Digital Transformation Week Is Returning to Santa Clara This Summer
Arab Financial Services (AFS) Enter Strategic Alliance with Xpence to Innovate SME Financial Management in Bahrain
Breaking Records: UXLINK Attracts 978,000 New Web3 Wallet Registration with $78,000,000 Deposit asset from February 01 to February 22, 2024
What To Expect from The Bitcoin Halving in April 2024
Testnet Launch for dWallet Network - Composable Modular Signature Network
ETH Denver Top Builders Base by Supermoon, Cointelegraph, NDC, Horizen, & Conflux
Citrea, Bitcoin’s First ZK Rollup, Announces $2.7M Seed Funding
Chromia’s Flagship Game ‘My Neighbor Alice’ Unveils 2024 Roadmap
First-Ever ICO on Bitcoin Blockchain: $3.1M Raised in Under 6 Days
CoinList to Host the MASA Token Public Sale as it Unleashes the World’s Personal Data Network
Sui Reveals Initial Wave of Speakers, Famed Venue for First Annual Basecamp Event
Vitalik Buterin Comes to Taiwan as Keynote Speaker at ETHTaipei 2024
Elevating Europe’s Crypto Hub: Next Block Expo Returns to Poland
Bridging the Data Trust Gap: 2024 RegTech Confab Set to Unlock Africa’s Economic Potential
ApeX Protocol Partners with Alertatron to Enhance Automated Trading Capabilities
TeachMeCode Institute Announces Grand Opening of Cutting-Edge Dubai School
Our social media
There's a lot to see there, too

Popular articles