Legendary Wall Street investor Paul Tudor Jones wants “to invest in certainty,” and for him, that means having some Bitcoin in his portfolio.
Speaking on CNBC’s Squawk Box on Monday, Jones said that “Bitcoin is math, and math has been around for thousands of years.”
“I like the idea of investing in something that is reliable, consistent, honest, and a hundred percent certain. Bitcoin has appealed to me because it’s a way for me to invest in certainty,” said Jones.
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According to the 66-year-old billionaire, he sees Bitcoin as a portfolio diversifier.
Jones went on to say that at this particular moment, “I want to have 5% in gold, 5% in BTC, 5% in cash, and 5% in commodities.”
“I don’t know what I want to do with the other 80%. I want to wait and see what the Fed has to do on Wednesday,” he added.
By mentioning the Federal Reserve, Jones referred to the U.S. central bank’s forthcoming two-day policy meeting, where it could modify some of its earlier forecasts for interest rates and inflation.
The Fed is often criticized for its monetary policy, which saw it pump trillions of dollars in newly printed money into the U.S. economy during the coronavirus pandemic.
“If they say, ‘we’re on path, things are good,’ then I would just go all in on the inflation trades. I’d probably buy commodities, buy crypto, buy gold,” commented Jones.
Last October, Jones said that Bitcoin reminded him of the internet stocks of 1999, suggesting that over the next 20 years, it could well be the currency of the future. Earlier this year, it was reported that the billionaire’s $44 billion Tudor Investment Corporation turned to Coinbase and Bakkt custody services to purchase some Bitcoin in May 2020.
Jones’ also backed a $72 million VC fund managed by investment firm North Island Ventures. One of the fund’s early investments was Dapper Labs, the company behind CryptoKitties, the first online game built on the Ethereum network.
Source: Decrypt.co
