March 28, 2024

Billionaire Tudor Jones calls Bitcoin inflation insurance

Legendary trader and founder of the hedge fund Tudor Investment, Paul Tudor Jones, told his clients thatsees bitcoin futures trading as insurance against current policies of central banks that print money to fight the coronavirus pandemic.

</p>

&#171;To maximize profits, you need to own the fastest horse. If you want to hear my forecast, I would bet on Bitcoin&#187;, &#8212; Tudor Jones emphasized.

He suggested that customers include bitcoin futures in the portfolio, but added that their share would not exceed several percent.

</p>

Tudor Jones explored possible positions on gold,government bonds, certain stocks, currencies and goods. Bitcoin, in his opinion, is a means of accumulation. The asset, the billionaire claims, has passed the strength test by four criteria: purchasing power, liquidity, portability and reliability.

</p>

A trader compared bitcoin to gold in the 1970s, when inflation hit US markets.

He already invested in the first cryptocurrency in 2017 and stepped out of position near a historic high.

&#171;I am not an apologist for hard money or cryptocurrencies. The most convincing argument in favor of buying Bitcoin is the digitization of currencies.

Recall that earlier Bitcoin was acquired by billionaire Bill Pulte.