2021-6-14 20:31 |
Billionaire investor Paul Tudor Jones told CNBC that he looks at bitcoin as a portfolio diversifier to protect his wealth over time.
Billionaire investor and hedge fund manager Paul Tudor Jones told CNBC that he looks at bitcoin as a store of wealth and a portfolio diversifier, citing the Federal Reserve's uncertain future policies.
"I like bitcoin ... Bitcoin is math, and math has been around for thousands of years," Tudor Jones told CNBC. "I like the idea of investing in something that is reliable, consistent, honest and 100% certain. So bitcoin has appealed to me because it's a way for me to invest in certainty."
Tudor Jones also compared bitcoin to human nature, commenting on the differences between the Fed’s policies in 2013 and 2021 — as well as those between presidents Trump and Biden — questioning his "faith in reliability and consistency of human nature."
When asked if he likes bitcoin at its current prices, Tudor Jones responded that he likes bitcoin as a portfolio diversifier to protect his wealth over time.
"Again, I look at bitcoin as a story of wealth," Jones said. "The only thing I know for certain, I want 5% in gold, 5% in bitcoin, 5% in cash, 5% in commodities. At this point in time, I don't know what I want to do with the other 80% until I see what the Fed is going to do."
Jones also said that he believes what the Fed does next "will have a big impact." If the Fed acted nonchalantly, Jones claimed he would "go all-in on the inflation trades," increasing his exposure to gold, bitcoin and commodities.
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