Paul Tudor Jones who is considered an exceptional hedge fund investor in the markets has revealed that Bitcoin forms a part of his portfolio. This has been seen as a major boost as Paul Tudor is considered a big name in the market and if Bitcoin is a part of his investment portfolio, it is considered to be a big thing and boosting for the prospects of such investments. Even the BitMEX CEO has said that the move can be extremely beneficial to attract more investors into the market.
The CEO of the World’s second-largest exchange BitMEX, Arthur Hayes, claimed that when investors like Jones invest, it goes a long way in removing career risk from investing in Bitcoin. Along with Hayes, there are many others who believe that many more institutional investors will follow suit after this revelation. He believes that many people will learn the new method to hedge inflation risks based on such investors. The CEO and co-founder of Metropolitan Capital advisors believes that with Jonas’ announcements hedge funds prospects will be augmented and many more funds and mainstream investors will follow suit. Finerman believes that now that Jonas has invested in Bitcoin, it can never get safer than that.
Jonas is of the opinion that when the Economic crisis in the 1970s came into being, Gold was seen as a major lifter and player in the entire crisis. Likewise in the entire pandemic scenario where the global economy has largely floundered, Bitcoin also can play a crucial role to keep the markets from sinking underwater. CNBC’s Brian Kelly believes that both Gold and Bitcoin have a lot of commonalities like a capped supply. But he still feels that Bitcoin will have a larger role to play in the ecosystem as it is backed by technology and mobility. Compared to Gold, Brian feels that Bitcoin enjoys a better upside and also has a better risk-to-reward feature.
Coinbase, a noted crypto exchange also published a report that in this crisis Bitcoin will emerge as a winner compared to Gold.
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