Billionaire Paul Tudor Jones Says Bitcoin Is in Its First Inning

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Thu, 10/22/2020 - 13:39
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Alex Dovbnya
Billionaire Paul Tudor Jones says he likes Bitcoin even more now
Billionaire Paul Tudor Jones Says Bitcoin Is in Its First Inning
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Hedge fund legend Paul Tudor Jones says that he likes Bitcoin even more now in his Oct. 22 interview on CNBC's "Squawk Box."

Moreover, Jones—whose net worth is estimated to be $5.1 bln—is confident that the flagship cryptocurrency is only in its "first inning":

I like bitcoin even more now than then. It’s in the first inning and has a long way to go.

He believes that Bitcoin could potentially become a "commonplace store of value."

The billionaire went on to praise the intellectual prowess of the Bitcoin community, whose members are "crowdsourced" from all over the globe:

Bitcoin has this enormous contingent of really really smart and sophisticated people who believe in it. [...] this group is crowdsourced all over the world.

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In May, Jones called Bitcoin "a great speculation" during his previous appearance on CNBC.

Back then, he revealed that he held about two percent of his enormous net worth in BTC.

As reported by U.Today, Jones announced that his Bitcoin investment in early May pushed the leading cryptocurrency to the $10,000 mark for the first time since a sharp drawdown in mid-March.

Bitcoin is currently trading at $12,958 on the Bitstamp exchange after soaring above $13,000 earlier today.

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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 alex.dovbnya@u.today.