Billionaire Paul Tudor Jones Sees Massive Upside in Bitcoin, Like Investing in Apple or Google Early

American billionaire hedge fund manager Paul Tudor Jones has recently become more bullish on bitcoin. He declared the cryptocurrency the best hedge against inflation and compares investing in bitcoin now to investing in early tech stocks, like Apple and Google. “I think we are in the first inning of bitcoin and it’s got a long way to go,” he said.

Paul Tudor Jones Increasingly Bullish on Bitcoin

Paul Tudor Jones explained why he is more bullish on bitcoin now in an interview with CNBC Squawk Box on Thursday. Jones founded Tudor Investment Corp., an asset management firm headquartered in Stamford, Connecticut. He became famous after predicting and profiting from the 1987 stock market crash.

The billionaire investor caught the attention of the crypto community back in May when he revealed on the show that he had invested about 2% of his assets in bitcoin. Now, four months later, bitcoin’s price has rallied more than 46% and there has been a string of bullish news, such as the recent announcement by Paypal to support cryptocurrencies, including bitcoin, on its platform.

Jones was asked if these developments have changed his BTC investment decisions, particularly whether he was buying more BTC or selling some. He clarified by reiterating his reason for liking bitcoin and recommending to his clients early this year. “Back in March and April, it became really apparent, given the monetary policy that was being pursued by the Fed, the incredible quantitative easing they were doing and other central banks were doing, that we were in an unprecedented time,” he explained. Noting additional problems brought about by the Covid-19 pandemic, he said, “one had to begin to think about how you defend yourself against inflation.” The Federal Reserve has also announced a major policy shift to push up inflation.

The founder of Tudor Investment Corp. continued to explain that he recommended bitcoin as an inflation trade, like gold,…

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