Paul Tudor Jones sees Bitcoin much higher as fiscal excess unwinds

Hedge fund manager on holding bitcoin Paul Tudor Jones He said, “I still have very small quotas. I’ve always had small quotas.”

This is despite a highly correlated move with the risk-on market, not to mention the recent slump in price action as BTC price ranged between $18,300 and $20,400 last month.

Tudor Jones did not quantify what “minor” and “small” meant. Nonetheless, some interpreted his words as bullish and that he is holding on despite the broader capitulation in the bear market.

time to face music

Tudor Jones spoke with Andrew Sorkin on CNBC’s Squawk Box to set the scene by summarizing the financial crises and dominant narratives of each decade since the ’90s.

In the 2020s, he described a scenario in which the previous excesses — the “massive experimentation” of low interest rates and unrestrained money printing — would take hold.

“Unfortunately, the 2020s will be a time to really focus on country-by-country debt dynamics, fiscal deficits and the need to execute in ways that give people confidence over the long term, and certainly fiscal policy. currency value.”

So, in this decade, Tudor Jones foresees a ‘financial contraction’. This, he says, is the exact opposite of what he has experienced in the last decade.

Bitcoin Inflation Hedging Story Still Matches Tudor Jones

In an inflationary environment with excessive government spending, hedge fund managers believe the fixed supply of Bitcoin and Ethereum makes them worth holding.

“In an era of too much money, there is inflation, too much government spending. Cryptocurrencies, especially things like Bitcoin and Ethereum, are valuable at some point because they are limited in quantity.”

He added that he doesn’t know when a significant price increase will occur, but that when the time comes, “it will be worth it.”

Sorkin asked that if injected, it would be worth much higher numbers than it is today. Tudor Jones said, “Oh, I think so.”

Interviewed, Kinmushi Peter Schiff Downplaying the importance of Tudor Jones’ “minor” allocation, he said it was not the “compelling endorsement” that crypto advocates believe.

Schiff’s tweet did not comment on future cryptocurrency price increases.

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