In brief
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
$119,090.00
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-0.55%Reading
Billionaire hedge fund manager Paul Tudor Jones is warming up to the rapidly evolving BitcoinBitcoin market.
In an interview with CNBC this morning, Jones said the cryptocrypto asset is an attractive hedge against inflation and spoke highly of the growing community of investors that have entered the space.
Jones, the founder of Tudor Investment Corp., told CNBC that we are still in the very early stages of the Bitcoin evolution, but after dipping his toe in the market earlier this year, he’s grown more comfortable in the space.
“Bitcoin has a lot of the characteristics of being an early investor in a tech company, and I didn’t realize it until after unfortunately I came by your show and got besieged by God knows how many different people on bitcoin,” he said on CNBC’s Squawk Box.
Wall Street legend Paul Tudor Jones, founder of Tudor Investment Corp., has between 1-2% of his assets in Bitcoin, according to an interview with CNBC. “It’s a great speculation. I’ve just got something ... just over one percent of my assets in Bitcoin. Maybe it’s almost two. That seems like the right number right now,” Jones said, adding, “Every day that goes by that Bitcoin survives, the trust in it will go up.” Last Thursday, Jones sent a letter to shareholders making the case that Bitcoin i...
He said he has a small, single-digit investment in Bitcoin, adding that he is “not a bitcoin flag bearer,” but added that he has been surprised by the number of really smart, sophisticated people that believe in Bitcoin.
He compared the potential of the Bitcoin market to investing in early tech, such as Apple during Steve Jobs’s tenure or early stage Google.
“I’ve never had an inflation hedge where you have a kicker that you also have great intellectual capital behind it,” he said.
The price of Bitcoin has surged past the $13,000 mark for the first time this year, one day after PayPal announced that it would let users buy and sell the cryptocurrency on its mobile app.
The price of Bitcoin is up about 275% since tanking in March during the market instability created by coronavirus outbreak surging in the U.S.
“I like Bitcoin even more now than I did then,” he told CNBC. “I think we’re in the first inning of Bitcoin and it’s got a long way to go.”
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
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A century-old Japanese textile company has become the latest financially battered firm to turn to Bitcoin as a treasury asset, announcing plans to purchase up to $5.4 million (800 million yen) in crypto to stabilize its bottom line after years of losses and muted cash flow. Kitabo Co., Ltd., a Tokyo Stock Exchange-listed textile manufacturer that produces synthetic fibers and industrial materials, announced in a statement on Tuesday that it will begin gradually acquiring Bitcoin using dollar-cos...
Tesla’s long-awaited retro-style diner finally opened over the weekend in Los Angeles, and yes, there’s rollerskating waitstaff, rooftop seating, and a humanoid robot handing out popcorn. No, you can’t pay in Dogecoin, yet. Located near the iconic Paramount Studios, the two-story fever dream sits atop a Supercharger hub with 80 EV-only parking spaces. Part midcentury nostalgia trip, part Muskovite experiment, the diner has seating for 250 people and features two, drive-in-movie-sized LED screens...