We Want to Be Long Crypto, Says Billionaire Paul Tudor Jones
A generational and digital gap, the billionaire argued. “The greatest brains coming out of schools today are going into crypto, going into internet 3.0,” he said, adding:
It’s impossible not to belong to crypto because of the sheer quantity of intellectual capital moving into that market.
“The ultimate crypto ideal is a borderless internet where blockchain is the verification code to allow anyone on the internet to quickly join because the blockchain confirms who they are,” Paul Tudor Jones explained.
In his opinion, “clearly, central banks and central governments will not necessarily be tremendous supporters of it, especially when utilizing crypto as a medium of exchange.” He said:
That’s the main thing holding it back… Governments will not buy in because they will lose control over money creation and supply.
Having a borderless internet and a store of value other than fiat currencies is appealing to Jones in a world that is de-globalizing.
“I have my little allocation to crypto,” he added. My trading position ranges from totally involved to nothing, and I’d say I’m slightly invested right now.” Regarding crypto’s future, he stated:
It has a bright future as we go through these rate rises, but a lot relies on what our central bank does. Much depends on our commitment to reducing inflation.
Jones was among the first to promote bitcoin in portfolios. He indicated last October he favored crypto above gold as an inflation hedge. He compared BTC to early tech stocks like Apple and Google.