According to billionaire hedge fund manager Paul Tudor Jones, Bitcoin wins the race against gold and he said he preferred the cryptocurrency as an inflation hedge over gold so let’s read more in our latest BTC news.
Paul Tudor Jones is the well-known billionaire CEO of Tudor Investment Corporation who reaffirmed his support for Bitcoin. He said that Bitcoin wins the race against gold and that he included the cryptocurrency in his portfolio because he deemed it superior to the precious metal, as an inflation hedge. The hedge fund manager also revealed his thoughts on CNBC’s Squawk Box as the interviewer referred to previous episodes when Jones showed his support for the cryptocurrency. He started showing a tentative interest in BTC as an inflation hedge and he kept his position since then.
Regarding the exposure, Jones said that his portfolio has a single-digit percentage of BTC and also said he had small trading positions in the asset:
“I do think we’re moving into an increasingly digitized world. Clearly, there’s a place for crypto, and clearly, it’s winning the race against gold at the moment, right?”
Jones stated that he will prefer Bitcoin to gold further in the future even as the cryptocurrency reached an all-time high. Furthermore, he offered some thoughts on the launch of the ProShares Bitcoin ETF and said he will prefer to hold an actual BTC rather than a derivative which only echoed the sentiments of some other investors. He recognized that this approval by the SEC will bring great relief to the crypto supporters but he is not the only billionaire that is looking at BTC as an inflation hedge. Orlando Bravo the co-founder of Thoma Bravo praised the crypto for this exact same thing. He said he is very bullish on the BTC price as many other blockchain-related investment plans are evolving and going ahead.
Earlier this year we saw Jordan Belfort predicting that BTC will reach $100K and he also said that the cryptocurrency has a finite supply which means owners should feel quite spoilt about it. An analyst from JPMorgan also said that plenty of major investors are getting involved as well and are investing in Bitcoin over gold.
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