2021-9-4 17:46 |
Bitcoin bull and legendary fund manager Paul Tudor Jones is planning to go deeper into the cryptocurrency sector.
According to new reports from Bloomberg, Tudor Group is setting up a digital disruption fund which can be expected to have some involvement in crypto. Assuming so wouldn't be far-fetching given that Jones has been sharing his bullish thoughts about the leading cryptocurrency since last year.
Back in May last year, when Bitcoin was trading under $10,000, the billionaire fund manager called Bitcoin the “fastest horse.” One of the first prominent investors to jump in on the cryptocurrency, he recommended investing 5% of a portfolio in the crypto asset — which he also called “a story of wealth” — the same as gold, cash, and commodities.
Then in early December, when Bitcoin was around $19k around its 2017 ATH, Tudor said the digital gold is extremely undervalued. “It's the wrong market cap in a world where you've got 90 trillion dollars worth of equity market cap and god knows how many trillions of fiat currency,” he said at the time.
In the same interview, he shared that Bitcoin reminded him of internet stocks of 1999 when the internet was in its infancy and “no one knew how to value it because of the world of possibility that lay ahead.”
About a month before that, Jones had also said that the Bitcoin rally is in its “first inning,” and it’s got a long way to go as he saw it as the “best inflation trade.” At the time, he also compared it to investing in Apple and Google.
Jones further expects people to use some type of digital currency in the next two decades with “cash may be gone.” “Digital currency will be used by every sovereign,” Jones added.
Likening cryptocurrencies to industrial metal such as copper, platinum, and palladium, he also saw Ethereum as an “industrial digital asset.”
Besides directly investing in cryptocurrency, Jones has also invested in crypto infrastructure through crypto exchange FTX. The founder and chief investment officer of Tudor Group participated in FTX’s $900 million round that gave the exchange a valuation of $18 billion.
Tudor Investment Corp also owns 6,500 shares worth about $250k of Riot Blockchain and 15,000 shares worth roughly $480k of Marathon Digital.
Bitcoin BTC $ 47,512.98 +0.30% +0.11% -2.66% baseUrl = "https://widgets.cryptocompare.com/"; var scripts = document.getElementsByTagName("script"); var embedder = scripts[scripts.length - 1]; var cccTheme = {"Chart": {"fillColor": "rgba(248,155,35,0.2)", "borderColor": "#F89B23"}}; (function () { var appName = encodeURIComponent(window.location.hostname); if (appName == "") { appName = "local"; } var s = document.createElement("script"); s.type = "text/javascript"; s.async = true; var theUrl = baseUrl + 'serve/v1/coin/chart?fsym=BTC&tsym=USD'; s.src = theUrl + (theUrl.indexOf("?") >= 0 ? "&" : "?") + "app=" + appName; embedder.parentNode.appendChild(s); })(); See Details The post Bitcoin Bull Fund Manager’s Tudor Group Setting up a Digital Disruption Fund first appeared on BitcoinExchangeGuide.Similar to Notcoin - TapSwap on Solana Airdrops In 2024
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