Chief investment officer and founder of Tudor Investment Corporation, Paul Tudor Jones, says he has now put nearly 2 percent of his assets in Bitcoin. He made this declaration in an interview with CNBC’s Squawk Box.
Jones is a renowned American hedge fund manager known for his fierce investment insight. His fund controls several billion, and according to Forbes, he is worth $5.1 billion.
Having been a long-time sceptic of cryptocurrency, Jones’ decision to invest in Bitcoin shows a change of heart. According to Jones, investors need to reposition themselves to tackle the impact of the COVID-19 crisis. One of such way is by going crypto.
Jones typically prefers to invest in options that have a proven track record and have been around for decades. However, with Bitcoin, he notes that “Bitcoin is 11 years old. There’s little trust in it. We’re watching the birthing of a store of value. And whether that succeeds or not, only time will tell. What I do know is that every day that goes by, Bitcoin survives. The trust in it will go up.”
However, Jones maintains that Bitcoin is still “great speculation.” With more preference toward gold, Jones believes that the value of gold will continue to rise amidst this crisis.
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