Well-known Wall Street investor and billionaire Paul Tudor Jones recently commented that he likes Bitcoin even more than he did earlier, referring to his original investment declared in the month of May, this year 2020. As per him, BTC scores highly among the probable options to offset inflation.
Jones praised BTC on CNBC’s Squawk Box morning show, divulging that he holds a trivial single-digit investment in the crypto asset.
The investor’s investment thesis stays unaffected. As per his thesis, BTC is an outstanding hedge against inflation, which is anticipated to surge in the ensuing couple of years because of central bank interference. Extraordinary quantities of quantitative easing and balance sheet growth, apart from more aggressive commitment to inflation by the Fed, resulted in increased inflation prospects.
As per Jones, BTC is one of the unsurpassed inflation trades when compared to conventional options like gold, copper, Treasury Inflation-Protected securities, and other more intricate instruments.
Jones added that Bitcoin has this massive contingence of smart and sophisticated individuals who have faith in it. As per him, it is similar to investing with Steve Jobs and Apple or investing in Google, in the initial days.
Some see Jones’s endorsement as a likely icebreaker for more institutional investors, who may feel more assured investing in the cryptocurrency asset class after well-known names have already made the jump.
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