Paul Tudor Jones’s fund has as much as $400m allocated to Bitcoin

Legendary trader Paul Tudor Jones (PTJ) has stated that Bitcoin reminds him of Gold in the 1970s.

Hedge against Inflation

The current Global Monetary Inflation (GMI) has reached unexpected extremes; according to him the equivalent of 6.6% of the economic output has been printed by central banks since February.

“It has happened globally with such speed that even a market veteran like myself was left speechless,” PTJ stated, “We are witnessing the Great Monetary Inflation — an unprecedented expansion of every form of money unlike anything the developed world has ever seen”.

Tudor Investment BVI

To protect capital, a hedge against inflation must be chosen and due its increasing popularity and ready accessibility, he believes that Bitcoin may be the fastest horse in this race.

As a result, one of his funds, Tudor Investment BVI will allegedly have as much as a single-digit worth of its NAV (net asset value) invested in Bitcoin futures. This can lead to as much as $400 million being injected into the market.

Previous Experience

Jones already had a taste of Bitcoin in 2017 where he exited near the $20,000 peak. However, he is now looking at it from a different lens: a store of value.

The trader stated: “I am not a hard-money nor a crypto nut. The most compelling argument for owning Bitcoin is the coming digitization of currency everywhere, accelerated by COVID-19”.