Author: - Billionaire hedge fund manager Paul Tudor Jones III has become an even bigger Bitcoin fan following the most recent price developments.
- As CryptoPotato reported back in May, Jones bought an undisclosed amount of BTC to protect himself amid the rising fears of increased inflations.
- In an interview with CNBC’s Squawk Box, the prominent investor doubled-down on his words that Bitcoin serves as a hedge against the failing traditional financial world.
- Jones noted that “I like Bitcoin even more now than then [when he bought BTC in May]. It’s in the first inning and has a long way to go.”
Paul Tudor Jones - He also clarified now that BTC has a single-digit percentage in his investment portfolio. However, he believes that Bitcoin could outperform all other traditionally regarded as safe-haven investment assets:
“The reason I recommended Bitcoin is because it was one of the menu of inflation trades, like gold, like TIPS breakevens, like copper, like being a long yield curve and I came to the conclusion that Bitcoin was going to be the best inflation trade.”
- Jones is not the only representative of the traditional investment world to have come on board the Bitcoin bandwagon. The Former CEO of the insurance giant Prudential and current Chairman of Sanders Morris Harris, George Ball, recently said that BTC is an attractive long-term investment.
- In addition, giant companies like MicroStrategy and Square recently purchased millions of dollars worth of Bitcoin.
Featured Image Courtesy Of CNBC
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