Famous billionaire Paul Tudor Jones said that he continues to hold Bitcoin.
Speaking to CNBC, Jones explained that he still has a very small amount of Bitcoin investment.
Famous Billionaire Keeps Holding Bitcoin
In an interview with CNBC, Jones thinks cryptocurrencies like Bitcoin and Ethereum will have great value at some point. He said he did not know when this would happen.
The famous billionaire stated that he first bought Bitcoin in May 2020, calling it “big speculation”.
Jones emphasized that last October, crypto money won its race against gold.
Best Period for Investment
Paul Tudor Jones argued that a macro environment fraught with uncertainty is best for investing.
Jones said that the outcome of the Fed’s aggressive rate-raising policy is currently unclear.
Noting that the US monetary policy was quite simple until 2018, the famous billionaire stated that after the pandemic, the Fed went to a quantitative extreme.
“Inflation is a bit like toothpaste, once you take it out of the tube it’s hard to get it back. The Fed is frantically trying to get that taste out of his mouth.”
Expressing that great experiments have been made on monetary policy for 12 years, Jones said that the central bank is now making a complete U-turn.
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