Famous trader fueled interest in buying bitcoin?
Paul Tudor Jones calls bitcoin the gold of the current generation
Trader believes bitcoin is also inflation hedge.
Bitcoin community on Twitter got excited without going into details
International consortium of news organizations developing transparency standards.
Billionaire and incredibly successful trader Paul Tudor Jones made a big statement about Bitcoin, calling cryptocurrency the gold of the current generation, writes Bloomberg.
Jones told his clients that Bitcoin is insurance against the risks associated with current central bank policies. The Bitcoin community on Twitter seems to have seen the announcement as a signal that a trader is accumulating BTC in his portfolio..
Bitcoin as insurance against inflation
Paul Tudor Jones is optimistic about the future of bitcoin. Legendary Wall Street Trader Believes Major Digital Currency May Also Provide Hedge Against Inflation.
In an address to his clients called “The Great Monetary Inflation,” the billionaire writes that Bitcoin reminds him of gold. Moreover, he argues that Bitcoin will help the current generation to protect themselves from the policies of the world’s central banks, which do not turn off their printing presses amid the coronavirus pandemic. Jones writes:
If you want to hear my prediction, I would bet on Bitcoin.
The trader emphasizes that his Tudor BVI fund has exposure to bitcoin futures, but emphasized that their share in the portfolio does not exceed a few percent.
Do not flatter yourself too much
It is not surprising that against the background of these statements by a reputable trader, the Bitcoin community has noticeably revived on Twitter.
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Many of Bitcoin’s most ardent supporters have picked up the news and spread it online..
For example, Anthony Pompiliano of Morgan Creek Digital wrote:
Well, well … Paul Tudor Jones buys bitcoins. Welcome to the party!
The founder of the Satoshi Nakamoto Institute Pierre Rochard went even further and stated that “this is the beginning of the end of fiat money.”.
In other reposts, many community members added their details to the original post, and in the wake of the excitement, few people noticed that the trader announced the presence of bitcoin futures in the portfolio, and not the cryptocurrency itself.
CoinShares Senior Strategist Meltem Demirors pointed out this nuance by tweeting:
At the same time, she continued, noting that in any case, the trader’s statement is favorable for the recognition of bitcoin..
The main digital currency has risen in price since the beginning of the week. The emergence of news about Jones’ interest in Bitcoin coincided with a sharp increase in his rate. However, it is difficult to say with certainty whether this tweet affected the sudden acceleration of the token’s rally, or whether it was just another surge in volatility typical for cryptocurrency..
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