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Wall Street magnate Paul Jones: Buying Bitcoin is "like investing in Google or Apple early"

via:CnBeta     time:2020/10/26 3:05:22     readed:111

In the ten years since its birth, bitcoin has come a long way, but as an "asset", it still looks quite young. Bitcoin prices this week climbed to their highest level since the beginning of the year and regained some of the bullish sentiment at the end of 2017 that pushed the price up to about $20000. This year, bitcoin has received new support from Wall Street and traditional investors.

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And today, Wall Street legend billionaire Paul Tudor Jones (Paul Tudor Jones) says buying Bitcoin is "like in Steve Jobs andAppleInvest in Google, or invest in Google early. "

Jones revealed that he bought bitcoin as a hedge against inflation risk. Bitcoin will be the best defensive asset, and it has a bright future. "The reason I recommend bitcoin is that it is one of the best options for fighting inflation, just like gold and inflation proof certificates. But bitcoin is still winning the trust of the mainstream society. "

"Bitcoin has many of the characteristics of being an early investor in technology companies," Jones, who is known for macro trading, especially bets on interest rates and currencies, told CNBC's squawk box this week

"I have a small single digit investment against the LTC," Jones said this week. "That's it. I'm not a bitcoin flagman. "

However, Jones said he saw the great potential of bitcoin, and that some people were "committed to making bitcoin a successful store of value and a trading tool at a very basic level."

"People who believe in bitcoin are very, very smart, very sophisticated," he said. "I have come to the conclusion that bitcoin will be the best trade in inflation, the defensive trade you will take."

In addition, PayPal, the payment giant, announced on Wednesday that it had joined the cryptocurrency market, allowing customers to buy, sell and hold bitcoin and other cryptocurrencies using the US digital payment company's online wallet.

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