Only a week after notifying the public he’s betting big on Bitcoin, hedge fund impresario Paul Tudor Jones has taken to CNBC to tell us why he believes Bitcoin is “a great speculation”

Speaking on CNBC on Monday, Jones reaffirmed that because of the ever increasing digitisation of the planet, Bitcoin just makes sense.

Jones expects success for an asset that he believes will gain more users as trust in blockchain tech improves over time.

“The digitization of the world clearly benefits Bitcoin,” he said in the interview. “My children don’t even carry cash.”

“The digitization of the world clearly benefits Bitcoin,”

Paul Tudor Jones

Jones believes that the current technological age’s enthusiasm for digital solutions will be a boon to Bitcoin.

He did offer a caveat that only through time can Bitcoin become a true store of value like gold is.

He continued, “There’s very little trust in [Bitcoin]. We’re watching the birthing of a store of value, and whether that seeds or not, only time will tell.”

There’s very little trust in [Bitcoin]. We’re watching the birthing of a store of value, and whether that seeds or not, only time will tell.

Paul Tudor Jones

Still, Jones, a self-proclaimed conservative investor, stopped short of proclaiming Bitcoin a great investment but did say it might be “a great speculation.”

[Bitcoin] is a great speculation.

Paul Tudor Jones

You can watch the full interview here:

As reported here last week, hedge fund pioneer Paul Tudor Jones has become one of the very first big-name investors to embrace Bitcoin.

In a move that astonished many in the financial world, Jones, the founder and CEO of Tudor Investment Corporation, announced in a report o investors that he sees Bitcoin as a hedge against inflation caused by central banks printing money.

In the market Outlook document titled “The Great Monetary Inflation“ he explained that he sees Bitcoin as one of the best bets going forward and that it reminds him of how gold played a similar role during the recession of the 1970s.

“WE ARE WITNESSING THE GREAT MONETARY INFLATION – AN UNPRECEDENTED EXPANSION IN EVERY FORM OF MONEY UNLIKE ANYTHING THE DEVELOPED WORLD HAS SEEN.”

Paul Tudor Jones

Jones, has become one of the first big hedge fund managers to bring Bitcoin into its portfolio.

He flirted with the crypto market back in 2017 but now believes the time is ripe for wholesale investment, especially since the outbreak worldwide of the Coronavirus.

“I am not a hard-money nor a crypto nut,” he wrote. “The most compelling argument for owning Bitcoin is the coming digitization of currency everywhere, accelerated by Covid-19.”

“THE MOST COMPELLING ARGUMENT FOR OWNING BITCOIN IS THE COMING DIGITISATION OF CURRENCY EVERYWHERE, ACCELERATED BY COVID-19”

Paul Tudor Jones 

The CNBC interview aired just a day after the highly anticipated Bitcoin halving with many market watchers excitedly awaiting Bitcoin’s next move.

The price of Bitcoin at the time of print is $8,813

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