• TennHedge

Paul Tudor Jones Opens the Floodgates for Bitcoin

May 7th, 2020 will go down as a momentous day in Bitcoin history, as we learned via Bloomberg that the legendary trader Paul Tudor Jones is investing in the digital currency.


This is a watershed event for Bitcoin, mark my words.


One of the chief criticisms of Bitcoin is that there is no institutional money in the asset class, thus it has no legitimacy in the larger world of finance. Well, one of the greatest institutional investors of all-time just dipped his toes in the water - and he is opening the floodgates behind him.


Jones' bull case for Bitcoin is essentially that it acts as a hedge from inflation (similar to gold), and he made positive comparisons between Bitcoin in 2020 and gold during the 1970's.


If you have been following me for any considerable length of time, you know that Paul Tudor Jones is one of my idols. Bitcoin having PTJ'S blessing is a big deal for me.


It feels like the next 24 months are going to be electric if you are a Bitcoin investor.


-TH


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Disclosure: I am long Bitcoin.


You should always consider seeking financial advice from a licensed advisor before making decisions with your money, and you should not consider anything I write as financial advice but merely my opinion. Getting your financial house in order is a prerequisite for Bitcoin saving, in my opinion.


Disclosure: nothing in this article should be considered financial advice and I am not a financial advisor. Do your own research as everything in finance carries risk.