Macro investor Paul Tudor Jones is buying Bitcoin as a hedge against the inflation he sees coming from central bank money-printing, telling clients it reminds him of the role gold played in the 1970s. “The best profit-maximizing strategy is to own the fastest horse,” Jones, the founder and chief executive officer of Tudor Investment Corp., said in a market outlook note he entitled ‘The Great Monetary Inflation.’ “If I am forced to forecast, my bet is it will be Bitcoin.” Jones, who said his Tudor BVI fund may hold as much as a low single-digit percentage of its assets in Bitcoin futures, becomes one of the first big hedge fund managers to embrace what until now has largely been snubbed by mainstream advocates. He was motivated to take a hard look at Bitcoin after considering the implications of massive fiscal spending and bond-buying by central banks to combat the coronavirus pandemic, he said. By his calculation, $3.9 trillion of money, the equivalent of 6.6% of global economic output, has been printed since February. https://www.bloomberg.com/news/arti...uys-bitcoin-says-he-s-reminded-of-gold-in-70s Thank God, I didn´t join Commodities Corporation in 1996. Otherwise, I would have to call him now and tell him, what a fool he is...!
Its now double that in printing terms. Now about $8 trillion worth of fed printing. Almost 1/2 of our current gdp!!!
~~Bitcoin and bitcoin futures~~ Title : Buys Bitcoins Article : Tudor BVI assets in Bitcoin futures Great job Bloomberg.com
It is hard to imagine much inflation with historic levels of unemployment. Without the fed's printing we would have already circled the drain, be down the pipe and be bobbing for baby ruths along with Judge Smells.
Did he said that 2 months ago when the price was around 5000? That's when the up momentum started. since price has already reach 10 000, there will be lots of bitcoin related news. anyway I treat such news as garage news.
Could be a charade to off load. No way someone who is so sophisticated as PTJ does not know the games played in BTC.