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- Tudor Jones said he will hold onto his Bitcoin
due to its standout features.
- The billionaire predicts that cryptocurrencies will have much higher value due to their scarcity.
Famous American billionaire and hedge fund manager Paul Tudor Jones has shared his thoughts on Bitcoin.
Paul Tudor Jones Will Remain Loyal to Bitcoin
As the cryptocurrency sector becomes a hot topic among regulators, American billionaire and hedge fund manager Paul Tudor Jones said he will hold onto his Bitcoin (BTC) due to its standout features.
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As he explained in a published interview, Jones praised Bitcoin’s limited supply as the most important feature that led him to decide to hold onto it longer than any other asset.
“I hadn’t been this excited about a trade in a long time. (…) From the very beginning, I’ve always said that I wanted to have a small percentage of my assets in Bitcoin because it’s a great story, it’s something that people can’t understand, and it’s something that’s not controlled by people, so I’m sticking with it. I’ll always be loyal to it. I have only a small amount of diversification in my portfolio.”
In particular, in October 2022, Jones expressed his belief that crypto assets will have much higher value in the future, especially at a time when there is a lot of money, due to their scarcity.
When asked if he will buy more Bitcoin, Jones said that cryptocurrencies have performed well recently due to “the large risk premiums we have,” but he wonders if they will be boring in the future.
The Problem with Bitcoin
Regarding Bitcoin in particular, “I think there’s a real problem because you’re up against all the regulatory apparatus in the United States, so this is not a story that’s going to go away, and if inflation really does start to come down, if this story plays out, then you have to wonder.” In his words:
“We were buying Bitcoin and gold as a hedge against inflation risk – that story may have been played.” Six months ago, before AI, before the potential productivity increases that will come with it, before the inflationary future, I would have told a completely different story about inflation protection.”
Meanwhile, Bitcoin’s price is trading at $27,045, down 0.72% in the last 24 hours and 1.40% in the previous seven days, with losses of 10.43% on its monthly chart.