Bitcoin wins the race against gold, according to billionaire hedge fund manager Paul Tudor Jones, and he says he prefers crypto over gold as an inflation hedge. So read more on the latest BTC news.
Paul Tudor Jones is the famous billionaire CEO of Tudor Investment Corporation who has reiterated his support for Bitcoin. He said that Bitcoin is winning the race against gold and that he added the cryptocurrency to his portfolio because he believes it outperforms the precious metal to hedge against inflation. The hedge fund manager also revealed his thoughts on CNBC’s Squawk Box when the interviewer mentioned previous episodes when Jones showed his support for the cryptocurrency. He began to show cautious interest in BTC as an inflation hedge and has held his position ever since.
In terms of exposure, Jones said his portfolio has a single digit BTC ratio and also said he has small trading positions in the asset:
“I think we are moving into an increasingly digitized world. Obviously there is a place for crypto and obviously it’s winning the race for gold right now, isn’t it? “
Jones stated that he would prefer even more gold to Bitcoin in the future, even if the cryptocurrency hits an all-time high. Additionally, he gave some thoughts on the launch of the ProShares Bitcoin ETF, saying he would rather hold a real BTC than a derivative that only reflects the views of some investors. He understands that this SEC approval will bring great relief to crypto advocates, but he’s not the only billionaire viewing BTC as an inflation hedge. Orlando Bravo, co-founder of Thoma Bravo, praised the cryptocurrency for this. He said he was optimistic about the BTC price as many other blockchain-related investment plans emerge and continue.
Earlier this year we saw Jordan Belfort predict that BTC would hit $ 100,000, and he also said the cryptocurrency has limited supply, which means owners should be pretty comfortable. A JPMorgan analyst also said that many large investors are also investing in bitcoin instead of gold and are investing in bitcoin.
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