Billionaire Paul Tudor Jones: ‘My bet is it will be bitcoin’ as the best inflation hedge | Crypto Craft

  • Billionaire Paul Tudor Jones: ‘My bet is it will be bitcoin’ as the best inflation hedge

    From marketwatch.com

    Billionaire investor Paul Tudor Jones made a prescient call on bullion in 2019; now he’s saying that bitcoin, the controversial digital currency, reminds him of gold in the 1970s, and may be the best hedge against inflation in the age of coronavirus. The famed hedge-fund investor, writing in a recent research note, cited unprecedented money-printing and stimulus measures by the Federal Reserve and the U.S. government amid the COVID-19 pandemic as key reasons behind his newfound appetite for the world’s most prominent cryptocurrency. “The best profit-maximizing strategy is to own the fastest horse,” Jones said ... (full story)

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RossEdwards
May 8, 2020 3:35am
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Inflation?
At this point I can see no evidence of any inflation in of most affected economies.
Some concerns about deflation yes.
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DaJoWaBa
May 8, 2020 6:57am
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The sceptic in me will believe this piece is about talking up his investments.

Cryptocurrency is something of a misnomer, as the currency bit doesn't really stack up. Until such time that Governments accept any cryptocurrency as payment of taxes and until it can be used freely, genuinely, by all and sundry mass populations, then it will at best remain akin to gold. Gold has been tried and tested since, well, you choose a point in human chronology.

The issue will become the same as with gold: it might hold value (due to the underworld wanting to use it to escape the eye of the law) but it doesn't earn you rent, dividends or any such like and in due course when it becomes unprofitable for the miners and vaults to run the system, security of any holdings will become a major issue, faced against hackers higher incentive to access the vaults and people's wallets.

It's possible that gold would be at higher values now if it weren't for cryptos diluting the demand for value-storage. I can't help feeling that it has similarities to tulip bulbs. They held great value and speculation until they didn't.
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investing101
May 8, 2020 2:47am
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Quoting stormtrader
to all non believers....see you at 250k and up
Bitcoin is trash and easy to manipulate, which is why people should stay away from it. It was all hype and they want out.
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stormtrader
May 8, 2020 2:06am
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to all non believers....see you at 250k and up
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here2there
May 8, 2020 8:53am
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Quoting stormtrader
to all non believers....see you at 250k and up
If Bitcoin ever makes it to 250k (highly unlikely), it probably won't happen without it falling below 6k a few more times.
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Blessed-man
May 8, 2020 8:04am
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If you expect bitcoin that is below $10k to reach $250K and you are concerned about money printing and inflation.

The money to buy it will still come from the excess of printing and that sort of move from 10k to 250k will put the worst of yesteryear inflation to shame.
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goldenmike
May 8, 2020 5:21am
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bitcoin and digital currencies are the future, no matter what
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dmbarrad
May 8, 2020 11:25am
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Quoting investing101
{quote} Bitcoin is trash and easy to manipulate, which is why people should stay away from it. It was all hype and they want out.
>easy to manipulate
>has to put 1B to move it up only for 15min
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Trader#A9B7
May 8, 2020 2:08am
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There will be no inflation, people only have enough money to buy food. There are simply no money to buy luxury goods, gold diamonds, bitcoins.
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realdream333
May 8, 2020 8:41am
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How much Bitcoin do you have sir?
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