In a recent interview, noted investor Paul Tudor Jones expressed his views on bitcoin, acknowledging that there could be regulatory challenges ahead. However, Jones reaffirmed his unwavering commitment to the dominant cryptocurrency, affirming that he maintains, and always will, maintains “a little diversification” in his investment portfolio.
Paul Tudor Jones on Bitcoin: ‘I’m Sticking to It, and I Always Will’
In an appearance on CNBC’s “Squawk Box” this week, legendary hedge fund manager Paul Tudor Jones shared his thoughts on both Bitcoin (BTC) and the US economy. Jones expressed his opinion that the US Federal Reserve may have crossed the line in its actions, emphasizing that no rate hikes are likely to occur this year. Moreover, he noted that inflation could continually decline, bringing the Fed closer to achieving its inflation-control goals than expected. However, this decline in inflation could present a challenge to the leading cryptocurrency, Bitcoin.
In addition to his notes on the US economy, Paul Tudor Jones delved into the regulatory landscape surrounding Bitcoin and the broader cryptocurrency industry. With conviction, Jones opined that “Bitcoin has a real problem because, in the US, you have the whole regulatory machine against it.” Despite this formidable opposition, Jones emphasized during his interview with CNBC that he remains steadfast in his commitment to the leading digital currency, choosing to maintain a modest allocation of BTC in his investment portfolio.
From the beginning, I’ve always said that I want a small customization of it because it’s the only thing humans can’t modify rendering. So I’m sticking to it, and I’ll always stick to it as a little diversification in my portfolio.
Back in October 2021, Jones confidently declared that bitcoin was “winning the race against gold,” before BTC soared to an all-time high of $69,000. Fast forward to May 2022, and Jones expresses the difficulty of not being optimistic about cryptocurrency. However, with the potential decrease in inflation, the rationale behind gold and bitcoin hedging may lose some of its luster in the future.
“[Bitcoin and gold have] He’s been doing a good job lately due to the fact that we’ve got these big risk premiums,” Jones told CNBC. “I wonder if they might not be boring in the future. The investment mogul added that if inflation had really been done a bit, and if this story were to be played out, you have to wonder: We were buying gold and bitcoin to hedge against inflation — this game might be over.
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