Bitcoin Forum

https://www.bloomberg.com/news/articles/2020-05-07/paul-tudor-jones-buys-bitcoin-says-he-s-reminded-of-gold-in-70s

Of course we've heard plenty of people of this ilk makes noises in the past and having a dabble, what's significant about this are his reasons why he did this. It's nothing much to do with woolly goals or being cheerful about the tech. It's a direct response from a hardened fund manager to US fiscal fun and the general future of money.


'Macro investor Paul Tudor Jones is buying Bitcoin as a hedge against the inflation he sees coming from central bank money-printing, telling clients it reminds him of the role gold played in the 1970s. “The best profit-maximizing strategy is to own the fastest horse,” Jones, the founder and chief executive officer of Tudor Investment Corp., said in a market outlook note he entitled ‘The Great Monetary Inflation.’ “If I am forced to forecast, my bet is it will be Bitcoin.”'

'Jones first dabbled in Bitcoin in 2017, doubling his money before exiting the trade near its peak at almost $20,000. This time, he said he evaluated Bitcoin as a store of value and decided it passes the test based on four characteristics: purchasing power, trustworthiness, liquidity and portability. “I am not a hard-money nor a crypto nut,” he wrote. “The most compelling argument for owning Bitcoin is the coming digitization of currency everywhere, accelerated by Covid-19.”'

 
I'm guessing he may just be involved in futures rather than physical ownership but all the same do you think other heavyweights will take this as permission to stop dancing around the fringes and actually embrace it?

People are selling stocks like Airlines and are looking for new ways to invest, hence Bitcoin. Its a hedge against traditional investments that are suffering due to covid-19. People still have money, they are looking to invest. Bitcoin is the answer.

Badly affected by the pandemic and they're now looking for a haven to save their assets. Good thing that Paul did the right thing, whilst the other common names in the financial industry starts to act weird again.

JP Morgan and Goldman advise clients to not buy bitcoin, claims industry exec (https://bitcoinist.com/jp-morgan-and-goldman-advise-clients-to-not-buy-bitcoin-claims-industry-exec/).

He has a new tweet.

in this twitch stream i explain how and why i bought BITCOIN (https://twitter.com/redxbt/status/1258463981825646592)

And he's live now.


Edit:
I'm not actually aware of his real handle and just looked into the link somehow, that account got a lot of followers. But yeah, best idea would be sticking to official newsletters.

Haha, you really got me there.

Somehow I do not believe that is the real Mr Tudor Jones. His handle being @redxbt might be a clue. He'll probably be trying to sell you a Bitcoin key generating program.

I'll stick his official newsletter and the mentions in places like Bloomberg rather than that tweeting cess pit.

LOL, you caught my ninja delete. That's not really Paul Tudor Jones. It's some Crypto Twitter dude that changed his name. Once I checked his feed it was obvious he was bullshitting.

Apparently Paul Tudor Jones really has arrived......


Yep, he's apparently only touching futures, which could represent at a maximum "a low single-digit percentage of [his fund's] assets." I assume that means products like CME cash-settled futures. Although there is no direct arbitrage mechanism with spot, if there is extremely high volume and open interest in the CME market, it could drive BTC spot prices.