Billionaire hedge fund manager Paul Tudor Jones expects crypto to have a bright future as the Fed hikes interest rates to fight inflation. The famous investor stressed, “It’s hard not to want to be crypto for long.”

Famed Hedge Fund Manager Paul Tudor Jones on Bitcoin, Crypto

Billionaire investor and renowned hedge fund manager Paul Tudor Jones spoke about Bitcoin in an interview with CNBC on Tuesday. Jones is the founder of the wealth management firm Tudor Investment Corp.

“I see this generation gap and it’s a digital divide,” the billionaire said. “If you look at the brightest and brightest minds that are coming out of college today, so many of them are going into crypto, so many of them are going into Internet 3.0,” he noted, adding:

It’s hard not to want to be crypto for long for the intellectual capital just for the sheer amount of intellectual capital flowing into this space.

“If you think about the ultimate dream of crypto, it’s clearly a borderless internet where you suddenly have blockchain as a verification code so anyone on the internet can connect instantly because the blockchain verifies who they are and then that opens up just huge opportunities,” explained Jones.

The Tudor Investment founder opined, “Obviously, central banks and central governments aren’t necessarily going to be big fans of it, especially when it comes to using crypto as a medium of exchange.” He warned:

That’s the main thing holding it back…the fact that you won’t get any support from governments because they lose the ability to control the creation and delivery of money.

Nonetheless, Jones noted that “in a world where we start to deglobalize,” the possibility of having the borderless internet and a store of value outside of fiat currencies “becomes very attractive.”

He then shared, “I have my humble attribution to crypto. Additionally, I have a trading position that ranges from fully invested to zero, and I would say for now I’m modestly invested.” Regarding his future outlook for crypto, he said:

I would think that if we eventually pull through with these rate hikes, it’s going to have a bright future, a lot of that depends on what our central bank does. Much of this depends on how serious we are about fighting inflation.

Jones was among the first traditional hedge fund managers to recommend Bitcoin in portfolios. In October of last year, he said he prefers crypto over gold as a hedge against inflation. He previously compared BTC to investing in early tech stocks like Apple and Google.

What do you think of Paul Tudor Jones’ comments? Let us know in the comments section below.

Kevin Helms

As an Austrian economics student, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open source systems, network effects and the interface between economics and cryptography.

photo credit: Shutterstock, Pixabay, WikiCommons

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