Speaking to Ross Sorkin of Squawk Box, billionaire Paul Tudor Jones stated that he still has investments in bitcoin. He went on to emphasize why both Bitcoin and Ethereum will appreciate in the future.
In 2020, shortly after the start of the Covid-19 pandemic, Jones found a hedge against inflation in Bitcoin. On the date, the billionaire noted that: “A lot of money was printed” and that even a veteran if he was concerned.
On Monday (10), Jones said he still has a small investment in Bitcoin. After all, even with the big drop, your contributions in 2020 should still be at a good profit.
“I always had a small allotment in Bitcoin.”
Another point from the billionaire was an overview of the history of the dollar over the decades. While inflation marked the 1970s, volatility appeared in the 1980s, Jones notes.
After the internet bubble of the 1990s and the housing crisis of the 2000s. Globalization and central banking experiments appeared in the past decade.
“Turning to the 1920s, I’m afraid it will be a period where we focus on debt dynamics – country to country – on budget deficits and on the need to certainly implement fiscal policy in a way that gives people confidence in the long-term value of the currency.”says Paul Tudor Jones.
“The problem we’ve had over the last 12 years is that we’ve done this experiment with monetary policy where we’ve suppressed interest rates.”
“I’ve always had a small allotment of #Bitcoin” say @ptj_official. “We will have to cut spending. At a time when there is too much money, something like #cryptospecifically #Bitcoin and #Ethereumthat will have value at some point.” pic.twitter.com/9ZE8gQitpx
— Squawk Box (@SquawkCNBC) October 10, 2022
Bitcoin and Ethereum should be in high valuation, but no date set
While Ethereum’s monetary policy is somewhat controversial as it is being changed by the developers, Paul Tudor Jones believes that ETH has the same opportunities as Bitcoin in this race.
The reason is quite simple, as governments print more of their coins, they tend to lose value. Therefore, cryptocurrencies will have more demand and, without an increase in supply, appreciate.
“In times when there is a lot of money – and that’s why we have inflation – and a lot of fiscal experimentation, something like cryptocurrencies – especially Bitcoin and Ethereum – which have a finite limit, will have value at some point. One day, I don’t know when, but they will have value.”
Finally, today several countries believe that CBDCs can compete with cryptocurrencies. So far, however, there is no one with a proposal similar to Bitcoin. So it’s hard to believe that BTC doesn’t have an even higher future.
Source: Live Coins
John Cameron is a journalist at The Nation View specializing in world news and current events, particularly in international politics and diplomacy. With expertise in international relations, he covers a range of topics including conflicts, politics and economic trends.
