Prominent hedge fund manager Paul Tudor Jones’ understanding of bitcoin has come into question since he only invested about 1% of his assets in the cryptocurrency. According to the CEO of Microstrategy, the Nasdaq-listed company that recently invested almost half a billion dollars in bitcoin, Jones would have invested much more if he had really understood bitcoin.
Paul Tudor Jones Would’ve Invested More in Bitcoin
In an interview with Stephan Livera, published Monday, Microstrategy CEO Michael Saylor shared his thoughts on how his billion-dollar company adopted bitcoin as its primary treasury reserve asset. The Nasdaq-listed company recently purchased a total of 38,250 bitcoins at an aggregate purchase price of $425 million.
During the podcast, he had a message for the billionaire hedge fund manager Paul Tudor Jones who revealed in May that he invested between 1%-2% of his assets in bitcoin as a hedge against inflation. Like Saylor, Jones was previously a bitcoin skeptic. However, “covid happened” and “the great monetary inflation happened,” making him rethink his investment position going forward, he told CNBC in May. “That’s really what tripped my interest in bitcoin.” The founder of asset management firm Tudor Investment Corporation compared bitcoin to the gold trade back in the 1970s, calling it “the fastest horse” in this environment.
“Bitcoin, I think is a great speculation … I have just over 1% of my assets in bitcoin, maybe it’s almost two, that seems like the right number right now,” Jones said. He shares Saylor’s sentiment about cash losing its value.
While admitting that an investor, like Paul Tudor Jones, putting 1% of his assets into bitcoin is a good thing, Saylor argued that from his point of view:
I just can’t see how you
