Legendary Wall Street investor Paul Tudor Jones counted among the most successful hedge fund manager today confirmed his choice of cryptocurrencies over other hedging options like Gold. His interest in Bitcoin and other cryptocurrencies comes amid the ongoing Bitcoin Halving rage and is supposed to work in favor of Bitcoin Bulls.
“Cryptocurrency Is The Fastest Horse Right Now”
Bitcoin prices today crossed 9k USD and is currently hanging in the range 9.8k-10k USD range at the time of reporting. As reported by CNBC today Paul Tudor confirmed his interest in cryptocurrencies and called it a better hedge option against gold. He described cryptocurrencies as fastest horse amid difficult market conditions due to covid-19 virus.
Choice of Bitcoin as a better hedge option against Gold has been a subject of debate among known names like Peter Schiff aka Gold bug, Michael NOvagratz etc.
Paul Tudor Jones: "The [Great Monetary Inflation] caused me to revisit Bitcoin as an investable asset for the first time in two and half years." pic.twitter.com/WrEHfOxNjT
— Matt Huang (@matthuang) May 7, 2020
As per him the real questions among investors right now is, “what will the winner in next 10 years time”. According to him cryptocurrencies can compete with other stores of value like Gold, fiat currencies, financial assets etc. and right now they are the best performers out there.
CNBC reporters called the event as Bitcoin Bombshell citing Paul’s entry as a remarkable feet for Bitcoin prices amid ongoing Bitcoin Halving countdown. The remarks of Paul for cryptocurrencies are an icing on cake and will definitely boost the ongoing bull sentiments due to halving speculations.
Bitcoin surging higher today as legendary investor Paul Tudor Jones says the cryptocurrency is the “fastest horse” right now. Our own bitcoin baller @BKBrianKelly breaks down the action. pic.twitter.com/ITPilC9fDT
— CNBC's Fast Money (@CNBCFastMoney) May 7, 2020