Billionaire Paul Tudor Jones Says Hes Sticking With Bitcoin, Calls BTC His Longest Bet – The Daily Hodl

Hedge fund billionaire Paul Tudor Jones says he has no plans to let go of his Bitcoin (BTC) allocation despite the crypto kings bearish price action over the past year.

In a new CNBC interview, the legendary investor says that Bitcoin is by far his longest bet.

In May 2020, Paul Tudor Jones revealed that he has allocated 1% to 2% of his multi-billion-dollar portfolio to Bitcoin. According to the billionaire, he will continue to hold on to his Bitcoin positions due to BTCs unique value proposition.

Ive never sat on a horse that long From the beginning, Ive always said I want to have a small allocation to [Bitcoin] because its a great tail event. Its the only thing that humans cant adjust the supply in, so Im sticking with it. Im going to always stick with it. Its just a small diversification in my portfolio.

Although Paul Tudor Jones says hes keeping his minor Bitcoin allocation, the billionaire notes that he believes BTCs future growth might be muted due to the current administrations aggressive stance against the crypto industry.

He also points out that the prospects of gold and Bitcoin might suffer as he believes inflation is about to cool off with the rise of AI.

What do I think right now? I liked it last December Im looking at it with gold, and I think theyve done so well recently because of the fact that we have had these risk premiums.

I wonder whether they may not be boring in the future. Bitcoin has a real problem because, in the United States, you have the entire regulatory apparatus against it. So its just yesterdays news.

If inflation is truly done a bit if that story has been played, then you have to wonder, we were buying gold and Bitcoin for the inflation hedges. That game may be over.

Six months ago, before AI, before the possible productivity boost that well get from it, I would have said a completely different story with regard to inflationary future and with regard to all the inflation hedges.

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Billionaire Paul Tudor Jones Says Hes Sticking With Bitcoin, Calls BTC His Longest Bet - The Daily Hodl