American billionaire Paul Tudor Jones was one of the first his categories, who saw great potential in BTC as early as the first half of 2020. He has now returned to the most famous cryptocurrency in an interview with CNBC at a time when BTC had exceeded its all-time high on Wednesday and climbed to $ 67,000.
Paul Tudor Jones told CNBC on Wednesday that, in his view, BTC was a better hedge against inflation than gold. “At the moment, I prefer it to gold. It is clear that there is room for cryptocurrencies. It’s clear that BTC is now winning its gold race. “ said in Squawk Box on Wednesday.
Jones, like another billionaire Carl Icahn, did on Tuesday during the interview expressed great concern about rising US dollar inflation. He thinks he poses a major threat to US financial markets, which are recovering from the economic consequences of the coronavirus pandemic.
“Clearly there is a place for crypto and clearly it’s winning the race against gold at the moment,” says Paul Tudor Jones on #BTC.
“I would think that would also be a very good inflation hedge. It would be my preferred one over gold at the moment.” pic.twitter.com/mIJKtqjUZ7
– Bloqport (@Bloqport) October 20, 2021
Paul Tudor Jones believes that BTC is a great way to protect wealth in the long run. Even better than gold, which traditional investors perceive as a kind of last resort hedge. However, Jones does not have a large part of BTC’s portfolio. He told CNBC that cryptocurrencies make up a single-digit percentage of his entire investment portfolio.
The topic of the interview was briefly the launch of BTC Futures ETF from ProShares. Jones stated that he himself prefers direct possession of BTC over any futures-linked ETF. However, if investors prefer this form of investment, they have no problem with it.
Thiel: BTC is a canary in a coal mine
While the Tudor compared BTC to gold and highlighted its better performance compared to the best-known precious metal, Peter Thiel PayPal, a co-founder of PayPal and a billionaire in the technology industry, thinks BTC’s success is reflected in the unsustainable state of American politics.
As for the BTC award, Thiel stated on Tuesday:I don’t know if you should put all your money into BTC when it costs $ 60,000. But the fact that it’s at $ 60,000 is undoubtedly an extremely promising sign. It’s a canary in a coal mine. It is the fairest market we have in this country and it tells us that the current one is dilapidated. This regime is about to explode. “
– BTC Magazine (@BitcoinMagazine) October 20, 2021
Thiel made his investments in cryptocurrencies through Founders Fund, which is also a co-founder. He is a vocal critic of the policies of Joe Biden and also of his democratic predecessors, Obama and Clinton. He also does not trust the Fed, which he calls the center-left most valued institution in the Western world. He sees cryptocurrencies as something that will contribute to positive economic and geopolitical change.