Key Takeaways
- Tudor claims SEC's approval of ProShares Bitcoin Futures ETF would go a long way to reassure many crypto lovers.
- Tudor and many other investors still favour and hold the actual Bitcoin over any other spinoff.
- Orlando Bravo claims that an increase in BTC's price has caused a tremendous increase in the value of his portfolio.
- Jordan Belfort (aka "The Wolf of Wall Street") forecasted that the price of a Bitcoin would eventually get to $100,000.
Mr. Tudor Jones, the billionaire hedge fund manager and CEO of Tudor Investment Corporation, has reaffirmed his position on Bitcoin, stating that he feels cryptocurrency is a better inflation hedge than gold and is one of his portfolio's equities.
This comes after the billionaire hedge fund manager said in an interview with CNBC's "Squawk Box" in May 2020 that he has found new interest and support for the most valuable cryptocurrency Bitcoin, and that it is a response to the pandemic as an inflation hedge. "Bitcoin would be a terrific inflation hedge," he said again recently.
He concluded that the globe is rapidly becoming a large technological village, and that Bitcoin is starting to surpass gold. Crypto has taken up a lot of that area. As Bitcoin increasingly 'bulls' and achieves all-time highs, Billionaire Jones has chosen Bitcoin as his preferred crypto currency above gold.
Despite the SEC's approval of the ProShares Bitcoin Futures ETF, Jones feels that he and many other investors would still prefer to own the genuine Bitcoin above any other spinoff.
Jones is not alone in viewing Bitcoin as an inflation hedge. The co-founder of Thoma Bravo, Orlando Bravo, recently announced that he has put in action a variety of blockchain-related investment ideas, claiming that the rise in BTC's price has also increased the value of his portfolio. He finished by praising Bitcoin as an inflation hedge.
Another millionaire, Jordan Belfort (dubbed "The Wolf of Wall Street"), predicted that the price of a Bitcoin would ultimately reach $100,000.
JP Morgan conducted research that found many other crypto enthusiasts, HODLers, and significant investors share the Paul Tudor Jones viewpoint, with financial institutions speculating that these enthusiasts are shifting their money from gold to Bitcoin.
Do you think these billionaires are right to speculate and prefer bitcoin over gold?
