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                    Contents
                    <ul class="article__contents-list"><li class="article__contents-item"><a class="article__contents-link link-pseudo" href="#h225">Another Paul Tudor Jones pump  </a></li><li class="article__contents-item"><a class="article__contents-link link-pseudo" href="#h396">Cash is a 'wasting asset'  </a></li></ul>
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Billionaire investor&nbsp;Paul Tudor Jones has just revealed that he owns nearly two percent of his net worth in Bitcoin (BTC) during his much-awaited appearance on CNBC:

<blockquote>
It’s a great speculation. I’ve just got something ... just over 1% of my assets in bitcoin. Maybe it’s almost 2. That seems like the right number right now.&nbsp;
</blockquote>

This translates into a nearly $100 mln crypto stash considering that the legendary hedge fund manager is worth $5.1 bln.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

He claims that trust in Bitcoin continues to grow now that it's a maturing asset:&nbsp;

<blockquote>
Every day that goes by that bitcoin survives, the trust in it will go up.&nbsp;
</blockquote>

<blockquote class="twitter-tweet">
“Well, <a rel="nofollow" target="_blank" href="https://twitter.com/hashtag/COVID19?src=hash&amp;ref_src=twsrc%5Etfw">#COVID19</a> happened. And the great monetary inflation happened,” says Paul Tudor Jones on why he now believes in <a rel="nofollow" target="_blank" href="https://twitter.com/hashtag/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#bitcoin</a>. He says he has just over 1% of his assets in <a rel="nofollow" target="_blank" href="https://twitter.com/hashtag/btc?src=hash&amp;ref_src=twsrc%5Etfw">#btc</a>. “We’re watching the birthing of a store of value.” <a rel="nofollow" target="_blank" href="https://t.co/Hm8hWyqX1U">pic.twitter.com/Hm8hWyqX1U</a>
— Squawk Box (@SquawkCNBC) <a rel="nofollow" target="_blank" href="https://twitter.com/SquawkCNBC/status/1259827139014283271?ref_src=twsrc%5Etfw">May 11, 2020</a></blockquote>


<a rel="nofollow" target="_blank" href="#">card</a>

Another Paul Tudor Jones pump&nbsp;&nbsp;

As <a rel="nofollow" target="_blank" href="#">reported by U.Today</a>, Jones dropped his&nbsp;Bitcoin bombshell on May 7. In his&nbsp;letter to investors, he claimed that BTC was a hedge against inflation. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

His announcement pushed the BTC price above $10,000, its highest level since February.&nbsp;

The top cryptocurrency retraced its weekly gains on May 10 with a 15 percent plunge that took place in less than ten minutes.&nbsp;

The BTC price rallied to $9,181 during&nbsp;Jones' CNBC interview, but this rally proved to be short-lived.&nbsp;&nbsp;&nbsp;
<em>image by&nbsp;<a rel="dofollow" href="https://www.tradingview.com/chart/owgYyEJF/">tradingview.com</a></em>
<a href="https://u.today/mike-novogratz-explains-whos-buying-bitcoin-btc">card</a>

Cash is a 'wasting asset'&nbsp;&nbsp;

Despite Bitcoin's volatility, Jones appears to think that BTC is a much <a href="https://u.today/mike-novogratz-says-bitcoin-and-gold-are-easiest-trades-reveals-his-favorite-stock">safer bet</a> compared to cash.&nbsp;

The famed investor&nbsp;calls fiat money a 'wasting asset' since central banks make it depreciate in value.&nbsp;

<blockquote>
If you own cash in the world today, you know your central bank has an avowed goal of depreciating its value 2% per year&nbsp;
</blockquote>

Back in January, Ray Dalio, another billionaire hedge fund manager, went as far as <a href="https://u.today/ray-dalio-lambastes-bitcoin-btc-praises-gold-in-davos">calling cash 'trash'</a> in Davos, but he insists that Bitcoin cannot be viewed as money.&nbsp;
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                    Contents
                    <ul class="article__contents-list"><li class="article__contents-item"><a class="article__contents-link link-pseudo" href="#h225">Another Paul Tudor Jones pump  </a></li><li class="article__contents-item"><a class="article__contents-link link-pseudo" href="#h396">Cash is a 'wasting asset'  </a></li></ul>
    Advertisement
    
        
    
    
        
                
            
                                            

        
        
                
            
                                            

        
    
Billionaire investor&nbsp;Paul Tudor Jones has just revealed that he owns nearly two percent of his net worth in Bitcoin (BTC) during his much-awaited appearance on CNBC:

<blockquote>
It’s a great speculation. I’ve just got something ... just over 1% of my assets in bitcoin. Maybe it’s almost 2. That seems like the right number right now.&nbsp;
</blockquote>

This translates into a nearly $100 mln crypto stash considering that the legendary hedge fund manager is worth $5.1 bln.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

He claims that trust in Bitcoin continues to grow now that it's a maturing asset:&nbsp;

<blockquote>
Every day that goes by that bitcoin survives, the trust in it will go up.&nbsp;
</blockquote>

<blockquote class="twitter-tweet">
“Well, <a rel="nofollow" target="_blank" href="https://twitter.com/hashtag/COVID19?src=hash&amp;ref_src=twsrc%5Etfw">#COVID19</a> happened. And the great monetary inflation happened,” says Paul Tudor Jones on why he now believes in <a rel="nofollow" target="_blank" href="https://twitter.com/hashtag/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#bitcoin</a>. He says he has just over 1% of his assets in <a rel="nofollow" target="_blank" href="https://twitter.com/hashtag/btc?src=hash&amp;ref_src=twsrc%5Etfw">#btc</a>. “We’re watching the birthing of a store of value.” <a rel="nofollow" target="_blank" href="https://t.co/Hm8hWyqX1U">pic.twitter.com/Hm8hWyqX1U</a>
— Squawk Box (@SquawkCNBC) <a rel="nofollow" target="_blank" href="https://twitter.com/SquawkCNBC/status/1259827139014283271?ref_src=twsrc%5Etfw">May 11, 2020</a></blockquote>


<a rel="nofollow" target="_blank" href="#">card</a>

Another Paul Tudor Jones pump&nbsp;&nbsp;

As <a rel="nofollow" target="_blank" href="#">reported by U.Today</a>, Jones dropped his&nbsp;Bitcoin bombshell on May 7. In his&nbsp;letter to investors, he claimed that BTC was a hedge against inflation. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

His announcement pushed the BTC price above $10,000, its highest level since February.&nbsp;

The top cryptocurrency retraced its weekly gains on May 10 with a 15 percent plunge that took place in less than ten minutes.&nbsp;

The BTC price rallied to $9,181 during&nbsp;Jones' CNBC interview, but this rally proved to be short-lived.&nbsp;&nbsp;&nbsp;
<em>image by&nbsp;<a rel="dofollow" href="https://www.tradingview.com/chart/owgYyEJF/">tradingview.com</a></em>
<a href="https://u.today/mike-novogratz-explains-whos-buying-bitcoin-btc">card</a>

Cash is a 'wasting asset'&nbsp;&nbsp;

Despite Bitcoin's volatility, Jones appears to think that BTC is a much <a href="https://u.today/mike-novogratz-says-bitcoin-and-gold-are-easiest-trades-reveals-his-favorite-stock">safer bet</a> compared to cash.&nbsp;

The famed investor&nbsp;calls fiat money a 'wasting asset' since central banks make it depreciate in value.&nbsp;

<blockquote>
If you own cash in the world today, you know your central bank has an avowed goal of depreciating its value 2% per year&nbsp;
</blockquote>

Back in January, Ray Dalio, another billionaire hedge fund manager, went as far as <a href="https://u.today/ray-dalio-lambastes-bitcoin-btc-praises-gold-in-davos">calling cash 'trash'</a> in Davos, but he insists that Bitcoin cannot be viewed as money.&nbsp;
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    Billionaire Paul Tudor Jones Reveals His Bitcoin Stash, Calls Cash 'Wasting Asset'

    Advertisement
    article image
    Alex Dovbnya
    Bitcoin (BTC) sees a short-lived rally during Paul Tudor Jones's CNBC interview, in which he revealed that he owns nearly two percent of his net worth in BTC
    Mon, 11/05/2020 - 13:49
    Billionaire Paul Tudor Jones Reveals His Bitcoin Stash, Calls Cash 'Wasting Asset'
    Cover image via www.facebook.com
    Read U.TODAY on
    Google News
    Contents
    Advertisement

    Billionaire investor Paul Tudor Jones has just revealed that he owns nearly two percent of his net worth in Bitcoin (BTC) during his much-awaited appearance on CNBC:

    It’s a great speculation. I’ve just got something ... just over 1% of my assets in bitcoin. Maybe it’s almost 2. That seems like the right number right now. 

    This translates into a nearly $100 mln crypto stash considering that the legendary hedge fund manager is worth $5.1 bln.      

    He claims that trust in Bitcoin continues to grow now that it's a maturing asset: 

    Every day that goes by that bitcoin survives, the trust in it will go up. 

    card

    Another Paul Tudor Jones pump  

    As reported by U.Today, Jones dropped his Bitcoin bombshell on May 7. In his letter to investors, he claimed that BTC was a hedge against inflation.          

    His announcement pushed the BTC price above $10,000, its highest level since February. 

    The top cryptocurrency retraced its weekly gains on May 10 with a 15 percent plunge that took place in less than ten minutes. 

    The BTC price rallied to $9,181 during Jones' CNBC interview, but this rally proved to be short-lived.   

    BTC Price
    image by tradingview.com

    Cash is a 'wasting asset'  

    Despite Bitcoin's volatility, Jones appears to think that BTC is a much safer bet compared to cash. 

    The famed investor calls fiat money a 'wasting asset' since central banks make it depreciate in value. 

    If you own cash in the world today, you know your central bank has an avowed goal of depreciating its value 2% per year 

    Back in January, Ray Dalio, another billionaire hedge fund manager, went as far as calling cash 'trash' in Davos, but he insists that Bitcoin cannot be viewed as money. 

    #Bitcoin News #Bitcoin Price Prediction
    About the author
    article image
    Alex Dovbnya

    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 alex.dovbnya@u.today.

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