Paul Tudor Jones: Investing in Bitcoin Is Like Backing Early Apple or Google

Founder and Chief Investment Officer of Tudor Investment Paul Tudor Jones has compared buying Bitcoin to investing in some of the largest technology companies at an early stage.

«I came to the conclusion that #btc was going to be the best of the inflation trades—the defensive trades,» says Paul Tudor Jones. «Bitcoin has a lot of characteristics of being an early investor in a tech company…it’s like investing with Steve Jobs and Apple.» pic.twitter.com/4760iQBrOy

— Squawk Box (@SquawkCNBC) October 22, 2020

«Bitcoin has a huge number of truly smart and savvy people who believe in it. It’s like investing with Steve Jobs and Apple, or early investment in Google,» said Jones.

The billionaire, who disclosed his investments in the leading cryptocurrency in May, noted that Bitcoin currently appeals to him even more than it did then.

He believes the Bitcoin rally is at an early stage.

Jones believes that the Federal Reserve’s unprecedented quantitative easing creates the groundwork for a sweeping inflationary surge. Therefore he recommended investors to trade Bitcoin futures as a hedge.

The billionaire confirmed that he holds “small, definite investments” in the leading cryptocurrency.

Earlier he said that he holds 1-2% of his assets in Bitcoin. Tudor Jones’s wealth is estimated at $5.1 billion.

Earlier in July, a former advisor to George Soros said he was not surprised by the billionaire’s investments in cryptocurrency.

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