Paul Tudor Jones confirmed to invest in the cryptocurrency market

Hedge fund manager Paul Tudor Jones said on CNBC that "over 1 percent, maybe almost 2 percent" of his funds [...] https://www.pinterest.com/pin/1085437947660215829/

Hedge fund manager Paul Tudor Jones said on CNBC that "over 1 percent, maybe almost 2 percent" of his funds are invested in Bitcoin (BTC) based futures. Paul Tudor Jones confirms the rumor - It seems appropriate now," he said when talking about buying BTC, adding that he believes Wall Street could witness the historic "birth of a [new] store of value" in the form of cryptocurrency. The hedge fund manager had already written in a letter to his clients that he had allowed his hedge fund, Tudor BVI, to buy BTC-based futures for a percentage of his funds. Granted, 1 or 2 percent isn't much, but at the end of March, his fund managed more than $21 billion in assets. Since he allocated 1 percent or about 2 percent of that money to buy bitcoin futures, that would mean an investment of about $210 million. "Something is wrong here." In an interview with CNBC, Jones said that he only holds a "small percentage" of his assets in BTC for now because the cryptocurrency has had no way to prove its value so far, just as gold has for millennials. However, he added that BTC "may prove to be the best" investment in his portfolio, while noting that fiat currencies will almost always lose value. In his letter last week, Jones explained that he believes BTC will benefit from "the coming digitization of currencies, accelerated by COVID-19," which he believes "will make the understanding, utility and ease of owning Bitcoin a much more common option than it is today ". He added that he also sees a lot of potential for BTC due to the still low capitalization of cryptocurrencies and their price. "Something looks wrong here and I think it is the price of Bitcoin" - he commented. You can always check the current rate of bitcoin and other cryptocurrencies at bitcoin.co.uk under the bitcoin rate and cryptocurrency rate tabs. Places where you can buy Bitcoin and other cryptocurrencies include the BitBay.net cryptocurrency exchange. If you don't have an account on BitBay yet, this article will show you how you can create one efficiently: LINK. Tags