The billionaire investor Paul Tudor Jones said that Bitcoin is among the main beneficiaries of the current market environment, calling it “very, very attractive” during an interview on the CNBC.
Jones, known for his sponsorships of Bitcoin as a coverage against inflation, said that the current market configuration recalls the technological bubble of 1999, although with key differences that could make the positive side even more dramatic.
Bitcoin is currently evaluating the maximums of all time. He passed his previous record of $ 124,466 during the weekend. Last week, he climbed over 13%, rebounding from $ 109,000 to the end of September to $ 125,900 today.
Bitcoin last faced these levels in August.
Tax policy and economic speculation
The legendary Hedge Fund manager indicated an unprecedented combination of tax and monetary conditions that guide the event.
Jones indicated the combination of a 6% budget deficit of 6% and a locking cycle of the FED ongoing by creating conditions unlike 1999, when a surplus and an increase in rates prevailed. He observed that while the following year he could see substantial market gains, investors should remain cautious, since the peak could come abruptly.
Jones observed that the greatest increases in prices occur in the 12 months preceding a market top, therefore active risk management is essential even during the strong gatherings. When asked which resources are positioned for the benefit, Jones has chosen Gold and Bitcoin.
“The greatest winners are gold … Bitcoin, I mean that it has increased by 50 or 60%,” he added, adding that cryptocurrency and digital gold are particularly attractive in a market ready for the continuous speculative fervor.
He also mentioned a basket of “actions” favored in detail, noting that he had seen strong earnings, but underlined the long -term potential of the crypt.
For investors who consider the exhibition, Jones suggested a mix of gold actions, crypts and technologies such as Nasdaq.
While Bitcoin continues to attract attention to both retail and institutional players, Jones’ approval strengthens its position as hedge in a market in which traditional actions could approach a foamy peak.
At the beginning of this year, Tim Draper, a billionaire capitalist venture, a long -standing Bitcoin lawyer, provided that retailers pass from Bitcoin to use exclusively as payment.