Legendary Wall Street investor Paul Tudor Jones wants “to invest in certainty,” and for him, that means having some Bitcoin in his portfolio. Speaking on CNBC’s Squawk Box on Monday, Jones said that “Bitcoin is math, and math has been around for thousands of years.”
“I like the idea of investing in something that is reliable, consistent, honest, and a hundred percent certain. Bitcoin has appealed to me because it's a way for me to invest in certainty,” said Jones.
According to the 66-year-old billionaire, he sees Bitcoin as a portfolio diversifier. Jones went on to say that at this particular moment, “I want to have 5% in gold, 5% in BTC, 5% in cash, and 5% in commodities.” “I don't know what I want to do with the other 80%. I want to wait and see what the Fed has to do on Wednesday," he added.
By mentioning the Federal Reserve, Jones referred to the U.S. central bank’s forthcoming two-day policy meeting, where it could modify some of its earlier forecasts for interest rates and inflation.
The Fed is often criticized for its monetary policy, which saw it pump trillions of dollars in newly printed money into the U.S. economy during the coronavirus pandemic.
The U.S. Bureau of Labor and Statistics today reported a 5% rise since last year in the consumer price index, reviving inflation fears.
This is the fastest year-over-year rise since the housing bubble burst in 2008. At that time, the index rose 5.3%. Bitcoin, often heralded as a hedge against inflation, is up 6.6% over the past 24 hours.
The consumer price index (CPI) is a basket of consumer goods used to measure individuals' general cost of living. Items range from the cost of milk, cereal, a...
“If they say, ‘we’re on path, things are good,’ then I would just go all in on the inflation trades. I’d probably buy commodities, buy crypto, buy gold,” commented Jones. Last October, Jones said that Bitcoin reminded him of the internet stocks of 1999, suggesting that over the next 20 years, it could well be the currency of the future. Earlier this year, it was reported that the billionaire’s $44 billion Tudor Investment Corporation turned to Coinbase and Bakkt custody services to purchase some Bitcoin in May 2020.
Jones’ also backed a $72 million VC fund managed by investment firm North Island Ventures. One of the fund’s early investments was Dapper Labs, the company behind CryptoKitties, the first online game built on the Ethereum network.
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
Daily Debrief Newsletter
Start every day with the top news stories right now, plus original features, a podcast, videos and more.
Bitcoin is coming to the drive-thru.
American fast food chain Steak ‘n Shake said Thursday it will begin accepting the world’s largest crypto at all of its U.S. locations starting May 16, giving its more than 100 million customers the option to pay for milkshakes and burgers in BTC.
“The movement is just beginning,” the company posted on X.
Unlike high-margin retailers, fast food chains run on thin margins and high volume, making Steak ‘n Shake’s Bitcoin rollout a real-world stress test for the...
On Thursday, Bitcoin miner MARA Holdings reported a staggering $533 million net loss for the first quarter this year, despite amassing Bitcoin at a record pace and steadily growing its year-over-year revenue.
The company's Q1 earnings reported a 30% jump in revenue to $214 million, with its Bitcoin holdings ballooning to 47,531 BTC, a 174% increase from just 17,320 BTC a year ago.
Still, the company's results missed Wall Street’s expectations. Its net income loss expanded to $533 million (at $1....
Coinbase's total revenues fell 10% quarter-over-quarter and fell short of analyst expectations amid a decline in trading activity, the company said in its first quarter earnings for 2025.
The crypto exchange booked $2 billion in total revenue on Thursday, below Wall Street analysts' estimates of $2.12 billion. Net income came in at $66 million, marking a 94% decrease from the fourth quarter of 2024.
The company’s earnings per share shrank to $0.26 from $4.84 the previous year for the same thre...
