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