NEW YORK, NY – MAY 14: Founder of The Robin Hood Foundation, Paul Tudor Jones speaks on stage … [+]
Paul Tudor Jones, a large hedge-fund manager and founder of Tudor Investment Corporation, says he is buying bitcoin.
He says that Bitcoin is a an inflation hedge against “great monetary inflation,” and reminds him of gold in the 70s.
“The best profit-maximizing strategy is to own the fastest horse,” says Jones in a letter to his investors. “If I am forced to forecast, my bet is it will be Bitcoin.”
He says his $22B Tudor BVI fund may hold as much as low single-digits of its assets in Bitcoin futures.
Bitcoin is trading today at $9,846 just before 2pm as per CoinBase. Bitcoin has rallied since this morning trading.
This announcement was originally reported via Bloomberg.