© Reuters. Billionaire Paul Sees Silver Lining in BTC Despite Falling 60%
- According to Paul Tudor Jones, the 2020s will be the decade of crypto.
- has vast potential uses that could enhance financial innovation.
- The approaching digital age offers tremendous opportunities for investors.
Billionaire Paul Tudor Jones supports Bitcoin despite its fall. Jones has amassed a staggering $7.5 billion fortune over the past three decades. Since then, he has made a career out of his knowledge of macroeconomic variables such as interest rates and currencies. Due to the possible effects of this currency strategy, Jones bases his belief on Bitcoin.
Furthermore, he adds, “a central bank had never conducted this kind of policy experimentation before the last ten years or so. The scope and depth of the impacts of this policy are not yet fully known or appreciated. »
“I’ve always had a small allocation of #Bitcoin,” says @ptj_official. “We’re going to have to make budget cuts. At a time when there’s too much money, something like #crypto, especially #Bitcoin and #Ethereum, will have value at some point.” pic.twitter.com/9ZE8gQitpx
— Squawk Box (@SquawkCNBC) October 10, 2022
Jones now sees a new frontier that is full of possibilities. Although more established investors don’t often embrace financial innovation, Jones said, “it’s hard not to be crypto long” in an interview with Bloomberg.
There’s a lot of speculation about it, but I think the underlying technology is pretty good.
Other notable crypto investors include Mark Cuban, who has invested in several Bitcoin-based startups, and Reid Hoffman. He is the co-founder of LinkedIn and a major investor in companies like Airbnb and Tesla (NASDAQ:).
Jones believes Bitcoin has the potential to become a major currency and is excited about the possibilities it presents for the future of finance. Jones, one of the world’s best-known investors, believes that a more digital world and the reality of monetary policy experimentation will increase demand for an asset like Bitcoin and drive its price “much higher than ‘it is not today’. ”
According to Jones, buying at current prices could be a great way to prepare for a possible long-term economic downturn.
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