Bitcoin

While the <a href="https://finbold.com/category/cryptocurrency-news/" rel="noopener noreferrer nofollow">cryptocurrency industry</a> has become a hot issue among <a href="https://finbold.com/category/regulations-news/" rel="noopener noreferrer nofollow">regulators</a>, American billionaire and <a href="https://finbold.com/guide/best-paying-jobs-in-finance/#4_Hedge_Fund_Manager" rel="noopener noreferrer nofollow">hedge fund manager</a> Paul Tudor Jones has said that he was going to hold on to the Bitcoin (<a href="https://finbold.com/cryptocurrency/bitcoin/" rel="noopener noreferrer nofollow">BTC</a>) he had purchased earlier because of the features that make it stand out from all the other assets in his portfolio.Indeed, Jones praised the finite supply of <a href="https://finbold.com/topic/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> as its pivotal characteristic that made him decide to hold on to it for longer than any other asset, as the hedge fund billionaire explained in an <a href="https://www.cnbc.com/2023/05/15/paul-tudor-jones-says-hes-going-to-keep-bitcoin-in-his-portfolio.html" rel="noopener noreferrer nofollow">interview</a> at CNBC’s Squawk Box published on May 15.<blockquote>“I’ve never sat on a horse that long. (…) From the beginning, I always said I wanted to have a small allocation to it because it’s a great tale of it, it’s the only thing that humans can’t adjust the supply in, so I’m sticking with it. I’m gonna always stick with it. It’s just a small diversification in my portfolio.”</blockquote>Notably, back in October 2022, Jones had <a href="https://finbold.com/billionaire-paul-tudor-jones-says-bitcoin-will-have-a-much-higher-value-someday/#" rel="noopener noreferrer nofollow">expressed</a> his belief that <a href="https://finbold.com/guides/cryptocurrency/" rel="noopener noreferrer nofollow">crypto</a> assets would have a much higher value at some point in the future, especially at a time when there is too much money, thanks to their scarcity, and that this value would be far more than it was at the time.Asked by the host whether he would buy more Bitcoin, Jones said that <a href="https://finbold.com/cryptocurrencies/" rel="noopener noreferrer nofollow">cryptocurrencies</a> have “done so well recently because of the fact that we have had these great risk premiums,” but he did wonder “whether they may not be boring in the future.”<h2 id="header-0">Bitcoin’s problem</h2>As for Bitcoin in particular, he believes that it “has a real problem because in the United States, you have the entire regulatory apparatus against it, so it’s just kinda yesterday’s news, and if inflation’s truly done a bit, if that story’s been played, then you have to wonder.” In his words:<blockquote>“We were buying <a href="https://finbold.com/topic/gold/" rel="noopener noreferrer nofollow">gold</a> and Bitcoin for the <a href="https://finbold.com/guide/high-inflation-impact-on-the-stock-market/" rel="noopener noreferrer nofollow">inflation</a> hedges – that game may be over. Six months ago, before <a href="https://finbold.com/topic/artificial-intelligence/" rel="noopener noreferrer nofollow">AI</a>, before the possible productivity boost that will go with it, I would’ve said a completely different story with regard to the inflationary future and with regard to all the inflation hedges.”</blockquote>Meanwhile, Bitcoin was at press time trading at the price of $27,204, down 0.72% in the last 24 hours, as well as 1.40% across the previous seven days, adding up to the losses of 10.43% on its monthly chart, according to the latest information retrieved by <a href="https://finbold.com/" rel="noopener noreferrer nofollow">Finbold</a> on May 16.Watch the entire video below:<react-video url="https://youtu.be/qIyYOc-sUSI"></react-video>Read more cryptocurrency news on <a href="https://finbold.com/category/cryptocurrency-news/?utm_source&#61;CMC&amp;utm_medium&#61;social&amp;utm_campaign&#61;CMC&amp;utm_content&#61;long" rel="noopener noreferrer nofollow">Finbold.com</a>.

Wall Street legend and billionaire T. Jones on Bitcoin: ‘I’m gonna always stick with it’

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