The legendary trader and founder of the Tudor Investment hedge fund, Paul Tudor Jones, told his clients that he sees bitcoin futures trading as insurance against current policies by central banks that print money to fight the coronavirus pandemic.
SCOOP from @ErikSchatzker
Paul Tudor Jones is long Bitcoin, and he says it reminds him of owning gold in the 70s https://t.co/QnI7uAHAtG
– Joe Weisenthal (@TheStalwart) May 7, 2020
“To maximize profits, you need to own the fastest horse. If you want to hear my forecast, then I would bet on bitcoin “– emphasized Tudor Jones.
He suggested that customers include bitcoin futures in the portfolio, but added that their share would not exceed several percent.
Paul Tudor Jones subjectively ranks bitcoin as the worst store of value relative to cash, gold, and financial assets. pic.twitter.com/wGXtSG2yG6
– Zack Voell (@zackvoell) May 7, 2020
Tudor Jones examined possible positions in gold, government bonds, some stocks, currencies and commodities. 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.
Here is some … pic.twitter.com/i8MZvq1zxU
– Hamish (@RocketorRekt) May 7, 2020
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.
“I’m not an apologist for hard money or cryptocurrencies. The most convincing argument in favor of buying bitcoin is the digitalization of currencies. ”
Paul Tudor Jones is interested in bitcoin not because he’s a “crypto-nut millennial”, but instead because he’s a “baby boomer” who wants to “protect his capital.” pic.twitter.com/raGBcjMavS
– Zack Voell (@zackvoell) May 7, 2020
Recall that earlier Bitcoin was acquired by billionaire Bill Pulte.
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