Paul Tudor to Embrace Bitcoin as Hedge Against Inflation
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7 May
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American investor and Tudor Investment Corp. CEO Paul Tudor Jones is reportedly buying bitcoin (EXANTE: Bitcoin) as a hedge against the inflation risks, Bloomberg has learned.

Jones says the current situation on the stock market reminds him of the role gold played back in the 1970s.

Cash App Sees Big Jump in Revenue as Bitcoin Price Drop

The well-known macro investor says bitcoin is the fastest horse for "the best profit-maximizing strategy."

Thus, The Tudor Bvi Global Portfolio L.P. fund became one of the first big American players to embrace cryptocurrency.

"We are witnessing the Great Monetary Inflation -- an unprecedented expansion of every form of money unlike anything the developed world has ever seen," Jones said.

Meanwhile, bitcoin is struggling to break the $10,000 mark it had lost on February 19th. At press time, bitcoin is trading at $9826.

Paul Tudor to Embrace Bitcoin as Hedge Against Inflation
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Chart of the USD/BTC trading pair from EXANTE

iHodl earlier reported that the California-based hedge fund Pantera Capital Management expects a big jump in bitcoin's price as halving arrives.

In 2020, the reduction in supply is only 40% as great as in 2016. If the relationship holds, that would imply approximately 40% as much price impulse and the price of bitcoin could peak at the $115 212 mark, Pantera Capital Management CEO Dan Morehead wrote in a newsletter Monday.

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