Hedge fund billionaire Paul Tudor Jones says ‘Entire US regulatory apparatus is against Bitcoin’
Billionaire hedge fund manager Paul Tudor Jones believes Bitcoin (BTC) will face strong headwinds in the coming months due to regulators and inflation.
Jones commented in a recent speech. exterior Discussed various economic themes and monetary policy on CNBC’s Squawk Box.
Jones said he still believes in bitcoin and continues to allocate a small portion of his assets to bitcoin. He said:
“This is the only thing humans can’t adjust supply for, so I’ll stick with it.
“Bitcoin has big problems”
Jones said he liked Bitcoin more in December 2022 and still likes it, but is cautious about its future.
He said bitcoin and gold have performed very well lately, thanks to the large risk premiums in a high inflation environment. However, if inflation “plays some role,” the gains from inflation hedging may end and Bitcoin may become “boring.”
He said bitcoin has “real problems” in the United States, and a combination of lower inflation and regulatory reluctance to regulate cryptocurrencies will make it more popular in the coming months than in years past. He elaborated that there is a possibility of disappearance.
Jones said:
“We have a whole regulatory structure for that in the United States.” [Bitcoin]So that’s kind of yesterday’s news. ”
Additionally, if inflation returns to control and investors stop hedging inflation, it could trigger a fall in gold and bitcoin, both considered excellent hedge assets.
Impact of AI
Jones said the advent of AI has reversed future inflation scenarios, making it more likely that the Federal Reserve will control inflation.
Jones said this will be driven in part by productivity gains brought about by AI and new innovations in the field.
He said:
“Before AI came along, before AI had the potential to increase productivity, I would have written a very different story in terms of the future of inflation and inflation hedging.”
An article first appeared on CryptoSlate in which hedge fund billionaire Paul Tudor Jones said that “the entire U.S. regulatory body is against Bitcoin.”
