Paul Tudor Jones The Biggest Investor Buys Bitcoins To Protect His Billions From Inflation
Forecasts that the US is waiting for a new “Great Depression” and economic decline shortly are looking more and more convincing. In such circumstances, many investors are forced to redistribute their investments and change their focus on more stable assets. A major investor, the dollar billionaire Paul Tudor Jones, did not pass by this trend.
Bitcoin is a “dark horse” worth betting on
The legendary macro investor said that it considers the purchase of Bitcoin as a refuge for its assets in the context of the impending economic crisis. Paul Tudor Jones critically assesses the situation that has now developed in the United States due to the massive spread of СOVID-19.
Unprecedented measures aimed at stimulating the economy and supporting the local population and businesses from total bankruptcy will show negative consequences shortly. Mr. Jones is confident that helicopter money printed by the Fed is likely to lead the country into deep inflation.
“To increase profits, you need to lasso the fastest horse. Bitcoin may well be it. ”
Mr. Jones drew a parallel between the current market behavior of Bitcoin and Gold in 1970 when inflation swept the world. In those conditions, the “yellow metal” was able to successfully overcome the critical situation: its price literally in 3 years rose to $180 per ounce.
Based on the experience of previous global crises, Mr. Jones is confident that the upcoming “Great Money Inflation” can help shape a new market paradigm.
“The world has never before faced such a market situation. Now the competition between all assets has increased to the maximum peak, each of them wants to establish its expansion. ”
Mr. Jones said that the decision to buy Bitcoin was also caused by the digitalization of the world, which received a new impulse in the context of the spread of the pandemic and the adopted restrictions.
“It would be wrong to call me a crypto fan or an ardent supporter of traditional assets. This is not true. In conditions when the world is stepping up the digitalization of all areas, owning Bitcoin is a good idea.”
Paul Tudor Jones sees a few steps forward
Paul Tudor Jones is known not only as of the owner of the largest investment corporation Tudor Investment Corp. He has a great influence on the financial market, Mr. Jones became world-famous after predicting Black Monday 1987 and the stock market crash.
Given his previous experience and investment insight, the purchase of Bitcoin can be an excellent signal for other large investors, and, accordingly, will positively affect the market position of the cryptocurrency.