Who is Paul Tudor Jones, and why his Bitcoin comments matter?
“I like bitcoin as a portfolio diversifier. Everybody asks me what should I do with my bitcoin? The only thing I know for certain, I want 5% in gold, 5% in bitcoin, 5% in cash, 5% in commodities"
If you were to hear the same statement from a layman, I am guessing you wouldn't be very enthusiastic about it. Just until yesterday, Paul Jones was just another name that didn't exist in my yellow pages. His comments, however, quickly grabbed my attention.
It is hard to pinpoint the exact motivation, but it does seem like the bullish comment made by Tudor Jones were timed right with the bullish movement of BTC. Just yesterday we saw BTC climb over $40k and is still hovering around the area.
Paul seems rather confident with what he had to say about bitcoin, along with other financial things. So much so that he has since pinned the interview on his twitter. Up until yesterday I never knew of the man. The interview also touches the now sensitive topic about bitcoin mining and meme stocks although I was more excited to hear him speak about meme coins.
Nevertheless, the man seems pretty confident in using bitcoin to diversify. I can see how the comments may have influenced a positive movement, especially when coupled with his insane reputation. He is no Elon. His presence in the crypto community is only starting to show.
I looked the guy up and turns out he has a reported net worth of $7 bill according to Forbes and the billionaire founded the hedge fund Tudor investment cooperation. The labels only add weight to his words. They make a huge difference. Couple that along with the rest of his statement and btc stands in a firm position.
Putting bitcoin along with the likes of gold, cash and commodities with the same value, 5%, is saying a lot. For one, he looks at it the way bitcoin should be looked at. Store of wealth. Just like the other assets mentioned. I wonder if this is just the start of more financially educated and reputed figures openly accepting the role of crypto in the modern economy as a result driving mass adoption.
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