YourCryptoNews
  • Live Prices
  • Crypto News
    • Altcoins
    • Bitcoin
  • Defi News
  • NFT News
  • Blockchain
  • Regulations
  • Trading
  • Scams
No Result
View All Result
YourCryptoNews
  • Live Prices
  • Crypto News
    • Altcoins
    • Bitcoin
  • Defi News
  • NFT News
  • Blockchain
  • Regulations
  • Trading
  • Scams
No Result
View All Result
YourCryptoNews
No Result
View All Result

Paul Tudor Jones sees Bitcoin much higher as fiscal excess unwinds

October 10, 2022
in Altcoins
Reading Time: 3 mins read
A A
Paul Tudor Jones sees Bitcoin much higher as fiscal excess unwinds
ShareShareShareShareShare

On holding Bitcoin, Hedge Fund Manager Paul Tudor Jones said he has “still got a very minor allocation, I’ve always had a small allocation to it.”

This is despite its highly correlated moves with the risk-on market, not to mention stagnant price action lately, with the past month seeing the BTC price ranging between $18,300 and $20,400.

Tudor Jones did not quantify what was meant by “minor” and “small.” Nonetheless, some have interpreted his words as bullish in that he continues to hold despite wider capitulation during the bear market.

Time to face the music

Speaking to Andrew Sorkin on CNBC’s Squawk Box, Tudor Jones set the scene by summarizing financial crises and dominant narratives from each decade since the 90s.

When it came to the 2020s, he described a scenario in which previous excesses, i.e., the “massive experimentation” of low-interest rates and uncurbed money printing, come home to roost.

“The 20s, I’m afraid, are going to be that period where we really focus on debt dynamics country by country, fiscal deficits, and the need to run, certainly fiscal policy, in a way that gives people confidence in the long run value of the currency.”

With that, going into this decade, Tudor Jones foresees “fiscal retrenchment,” which he described as the polar opposite of what was experienced during the last decade.

Bitcoin’s inflationary hedge narrative still stands with Tudor Jones

In an inflationary environment with excess government spending, the hedge fund manager said he sees merit in holding Bitcoin and Ethereum due to their fixed supply.

“In a time when there’s too much money, which is why we have inflation, and too much fiscal spending, something like crypto, specifically Bitcoin and Ethereum, where there’s a finite amount of that, that will have value at some point.”

He added that he doesn’t know when significant price appreciation will occur, but “it will have value” when the time comes.

Injecting, Sorkin clarified by asking, value at a much higher number than today? Tudor Jones said, “oh, I think so, yeah.”

In response to the interview, gold-bug Peter Schiff played down the significance of Tudor Jones’ “minor” allocation, saying this is not the “compelling endorsement” cryptocurrency advocates believe it to be.

Schiff’s tweet did not comment on future crypto price appreciation.

Get an Edge on the Crypto Market 👇

Become a member of CryptoSlate Edge and access our exclusive Discord community, more exclusive content and analysis.

On-chain analysis

Price snapshots

More context

Join now for $19/month Explore all benefits


Credit: Source link

You might also like

Binance CZ says stablecoin regulation would boost adoption

Binance CZ says stablecoin regulation would boost adoption

February 2, 2023
AllianceBlock hacked for $12M; Nostr launches Damus app

AllianceBlock hacked for $12M; Nostr launches Damus app

February 2, 2023

Related Stories

Binance CZ says stablecoin regulation would boost adoption
Altcoins

Binance CZ says stablecoin regulation would boost adoption

February 2, 2023
AllianceBlock hacked for $12M; Nostr launches Damus app
Altcoins

AllianceBlock hacked for $12M; Nostr launches Damus app

February 2, 2023
How to make crypto more eco-friendly
Altcoins

How to make crypto more eco-friendly

February 2, 2023
Meta (formerly Facebook) sees stock value rise despite $13B in VR losses
Altcoins

Meta (formerly Facebook) sees stock value rise despite $13B in VR losses

February 2, 2023
Next Post
web 3.0, metaverse, blockchain and digital art

web 3.0, metaverse, blockchain and digital art

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Why Is MINA Crypto Up By 34% Today?

Why Is MINA Crypto Up By 34% Today?

January 30, 2023
Could Yuga Labs’ Dookey Dash Revive The GameFi Hype?

Could Yuga Labs’ Dookey Dash Revive The GameFi Hype?

February 1, 2023

Popular Story

    • Contact Us
    • Privacy Policy
    • Terms of Use
    • DMCA

    © 2021 - YourCryptoNews.net - All rights reserved!

    No Result
    View All Result
    • Live Prices
    • Crypto News
      • Altcoins
      • Bitcoin
    • Defi News
    • NFT News
    • Blockchain
    • Regulations
    • Trading
    • Scams

    © 2021 - YourCryptoNews.net - All rights reserved!

    • bitcoinBitcoin (BTC) $ 23,777.00 3.01%
    • ethereumEthereum (ETH) $ 1,665.12 5.63%
    • tetherTether (USDT) $ 1.00 0.01%
    • bnbBNB (BNB) $ 328.00 6.59%
    • usd-coinUSD Coin (USDC) $ 0.999891 0.07%
    • xrpXRP (XRP) $ 0.413640 3.04%
    • binance-usdBinance USD (BUSD) $ 0.999182 0.05%
    • cardanoCardano (ADA) $ 0.400678 4.56%
    • dogecoinDogecoin (DOGE) $ 0.093323 0.85%
    • matic-networkPolygon (MATIC) $ 1.22 11.36%
    • okbOKB (OKB) $ 39.94 6.16%
    • solanaSolana (SOL) $ 24.86 5.37%
    • staked-etherLido Staked Ether (STETH) $ 1,659.22 5.65%
    • polkadotPolkadot (DOT) $ 6.49 4.5%
    • litecoinLitecoin (LTC) $ 100.07 4.05%
    • shiba-inuShiba Inu (SHIB) $ 0.000012 2.79%
    • avalanche-2Avalanche (AVAX) $ 21.69 12.56%
    • tronTRON (TRX) $ 0.063421 2.23%
    • uniswapUniswap (UNI) $ 6.91 5.74%
    • daiDai (DAI) $ 0.999729 0.05%
    • cosmosCosmos Hub (ATOM) $ 14.67 7.56%
    • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 23,718.00 2.92%
    • the-open-networkToncoin (TON) $ 2.45 6.59%
    • chainlinkChainlink (LINK) $ 7.23 5.44%
    • moneroMonero (XMR) $ 178.57 2.11%
    • leo-tokenLEO Token (LEO) $ 3.36 6.73%
    • ethereum-classicEthereum Classic (ETC) $ 22.44 4.83%
    • aptosAptos (APT) $ 18.25 9.92%
    • bitcoin-cashBitcoin Cash (BCH) $ 138.25 4.8%
    • stellarStellar (XLM) $ 0.092874 3.58%
    • apecoinApeCoin (APE) $ 6.16 5.75%
    • quant-networkQuant (QNT) $ 148.61 7.49%
    • filecoinFilecoin (FIL) $ 5.63 9.49%
    • nearNEAR Protocol (NEAR) $ 2.43 8.29%
    • crypto-com-chainCronos (CRO) $ 0.081163 3.31%
    • lido-daoLido DAO (LDO) $ 2.30 6.78%
    • algorandAlgorand (ALGO) $ 0.254584 7.31%
    • hedera-hashgraphHedera (HBAR) $ 0.069041 8.56%
    • vechainVeChain (VET) $ 0.024659 8.48%
    • internet-computerInternet Computer (ICP) $ 5.96 1.71%
    • fantomFantom (FTM) $ 0.571703 8.52%
    • decentralandDecentraland (MANA) $ 0.787738 6.75%
    • axie-infinityAxie Infinity (AXS) $ 11.45 7.64%
    • aaveAave (AAVE) $ 90.85 11.64%
    • the-sandboxThe Sandbox (SAND) $ 0.756782 5.77%
    • eosEOS (EOS) $ 1.08 2.93%
    • flowFlow (FLOW) $ 1.14 8.38%
    • elrond-erd-2MultiversX (EGLD) $ 43.93 3.74%
    • theta-tokenTheta Network (THETA) $ 1.08 6.83%
    • terra-lunaTerra Luna Classic (LUNC) $ 0.000173 2.2%