Billionaire investor and hedge fund manager Paul Tudor Jones said CNBC He views bitcoin as a store of wealth and a diversified portfolio, pointing to the uncertain future policies of the Federal Reserve.
“I love bitcoin…Bitcoin is mathematics, and mathematics has been around for thousands of years,” Theodore Jones told CNBC. “I like the idea of investing in something that is reliable, consistent, honest and 100% certain. So Bitcoin appealed to me because it is a way for me to invest in certainty.”
Theodore 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 “belief in the reliability and consistency of human nature.”
When asked if he liked bitcoin at current prices, Theodore Jones replied that he liked bitcoin as a catalyst for portfolio diversification to protect his wealth over time.
“Again, I look at bitcoin as a richness story,” Jones said. “The only thing I know for sure, I want 5% in gold, 5% in bitcoin, 5% 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 will the Fed do?
Jones also said he thinks what the Fed does next “will have a huge impact”. If the Fed acted carelessly, Jones claimed it would “completely interfere with inflation trading”, increasing his exposure to gold, bitcoin and commodities.