World’s Biggest Investor Paul Tudor Jones Warns Against Buying Bitcoin Now
Crypto News: American billionaire and noted hedge fund manager, Paul Tudor Jones, recently stated that Bitcoin (BTC) is slowly becoming less appealing owing to the growing unfriendly regulatory landscape in the United States. Furthermore, he also mentions how the prospect of considerably lower inflation and its related CPI number could act as potential threats to Bitcoin’s price in the near future.
“Bitcoin Has A Real Problem” Claims Jones
In a televised interview, the 68-year-old investor shared his thoughts on Bitcoin (BTC) as well as the current economical scenario of the United States. Jones expressed his downbeat perspective that both Bitcoin and Gold have become less bullish as the “inflation hedge” narrative is progressively becoming irrelevant due to the numbers falling down in line.
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Moreover, the United States supposed anti-crypto stance has also stood out as a sore thumb for the Wall Street veteran. After the dramatic fall of FTX in November of 2022, U.S. regulatory bodies have proactively increased their skepticism and scrutiny over the crypto industry. This was epitomized by the SEC’s threat of legal action against Coinbase, a prominent crypto exchange that recently got listed on the New York Stock Exchange.
While speaking about the country’s rampant crackdowns on crypto businesses, Jones was quoted as saying:
Bitcoin has a real problem because in the United States, you have the entire regulatory apparatus against it.
Jones Still Bullish On Bitcoin
Even though Jones seemed to have a rather pessimistic view of Bitcoin, he emphasized his unyielding commitment to the flagship cryptocurrency — confirming that he keeps “a small diversification” in his investment portfolio which he will continue to hold on to because of its distinctive set of features.
According to Jones, the fact that Bitcoin has a finite supply and no more Bitcoins can later be created, is the defining feature which convinced him to hold on to it for such a long time. “It’s the only thing that humans can’t adjust the supply in, so I’m sticking with it”, he concluded.
As things currently stand, the price of Bitcoin is exchanging hands at $27,010 which represents a drop of 1% over the past 24 hours.
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