Blockchain Bites: Paul Tudor Jones, Open Options and Why Bitcoin Looks Strong Heading to the Halving

Yesterday, it came to light that Paul Tudor Jones II, a titan investor, is considering bitcoin as a hedge against inflation. While it’s unknown where he intends to make his allocation or how much he’ll invest over what period of time through his flagship fund, we do know why. Bitcoin is what gold was in the 1970s, he thinks.

“I am not a millennial investing in cryptocurrency, which is very popular in that generation, but a baby boomer,” he said in a letter to investors. “In a world that craves new safe assets, there may be a growing role for bitcoin.”

Next week as Consensus: Distributed kicks off, Blockchain Bites will be your guide to the event. We’ll publish twice daily, providing a detailed schedule of events as well as a daily recap. I hope you can join us for the completely free and virtual event. You can subscribe to this and all of CoinDesk’s newsletters here.

In other news, Bixin is launching a $66 million fund of funds, Massive Adoption organizer Jacob Kostecki is getting sued and Filecoin is delivering physical hard drives. Here’s the story:

Top Shelf

Industry Head Looking to Hedge
Paul Tudor Jones II, a pioneer of the modern hedge fund industry, is ready to bet on bitcoin’s price as an inflation hedge. Jones’ flagship $22 billion Tudor BVI Global Fund has been authorized to hold as much as “a low single-digit percentage exposure percentage” of its assets in bitcoin futures, according to a note sent to investors this month. It is not clear whether the fund has begun buying futures, what kind (physically delivered or cash-settled), on which exchange it would do so or whether it plans to also trade the underlying commodity.

Bitcoin Halving Interest Doubles (Five Times Over)
With fewer than four days left till bitcoin’s halving, popular interest in the once-every-four-years event is reaching a fever pitch. Google Trends, a barometer for gauging interest in trending search topics, shows searches for “halving” or “bitcoin halving” at five times…

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