Billionaire Paul Tudor Jones Expects Bitcoin Price to Be ‘Much Higher’ Than Today – Markets and Prices Bitcoin News

Billionaire hedge fund manager Paul Tudor Jones says cryptocurrencies, specifically bitcoin and ethereum, will be “at a value much higher than where we are today.” Confirming that he still owns bitcoin, the famed hedge fund manager revealed that he “always” has a small allocation of bitcoin in his portfolio.

Paul Tudor Jones, the famous hedge fund manager and investor still has Bitcoin

Paul Tudor Jones is a multi-billionaire hedge fund manager and investor. He spoke with CNBC Monday to discuss bitcoin and U.S. economics. Tudor Investment Corp. was founded by Jones. Forbes reports that Jones’ net worth at the moment is $7.5 Billion.

Jones replied to a question regarding bitcoin and its use as an inflation hedge. He also asked if he had any BTC.

I’ve always had a small allocation to it [bitcoin] … In a time where there’s too much money, to much fiscal spending, something like crypto, specifically bitcoin and ethereum, that will have value at some point.

“We’re going to have to have fiscal retrenchment,” he further noted.

The billionaire was asked whether the crypto he mentioned will be “at a value much higher than where we are today” Jones replied: “Oh yeah I think so.”

Jones is a proponent of bitcoin for a long time. In May, he said, “It’s hard not to want to be long crypto.” He previously said that he preferred crypto over gold as a hedge against inflation. Stan Druckenmiller, his friend, also became a bitcoin investor. But, Duquesne Family Office LLC CEO Stan Druckenmiller recently declared that he doesn’t hold any bitcoin. Nonetheless, Druckenmiller said he “could see cryptocurrency having a big role in a Renaissance because people just aren’t going to trust the central banks.”

Paul Tudor Jones: The U.S. Economy and Recession

Jones shared Jones’s view about the U.S. economic system. Jones responded to the question “Are we in recession?”

I don’t know whether it started now or it started two months ago. We always find out and we are always surprised at when recession officially starts, but I’m assuming we are going to go into one.

The billionaire added: “Most recessions last about 300 days from the commencement of it. It is currently down by 10%. The first thing that will happen is short rates will stop going up and start going down before the stock market actually bottoms.”

Jones added:

Inflation can be described as toothpaste. Once you get it out of the tube, it’s hard to get it back in. Fed staff are working hard to remove that bitter taste from their lips. … If we go into recession, that has really negative consequences for a variety of assets.

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Kevin Helms

Kevin is a graduate of Austrian Economics. He discovered Bitcoin in 2011, and has been an advocate ever since. He is interested in Bitcoin security and open-source software, network effects, and the intersection of cryptography and economics.

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