Billionaire Paul Sees The Silver Lining in BTC Despite 60% Fall By CoinEdition

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Billionaire Paul Sees The Silver Lining in BTC Despite 60% Fall

Published Oct 14, 2022 10:14AM ET Updated Oct 14, 2022 10:30AM ET

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Billionaire Paul Sees The Silver Lining in BTC Despite 60% Fall

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According to Paul Tudor Jones, the 2020s will be the decade of crypto.
Bitcoin has vast potential uses that could improve financial innovation.
The approaching digital era offers tremendous opportunities to investors.

Billionaire Paul Tudor Jones supports Bitcoin despite its fall. Jones has accumulated a staggering $7.5 billion fortune over the last three decades. Since then, he has made a career out of his knowledge of macroeconomic variables like interest rates and currencies. Because of the possible effects of this monetary strategy, Jones rests his conviction on Bitcoin.

Furthermore, he adds, “A central bank had never conducted this kind of policy experimentation before the past ten or so years. The entire scope and depth of this policy’s impacts are not yet fully known or appreciated.”

"I've always had a small allocation of #Bitcoin, " says @ptj_official. "We're going to have to have fiscal retrenchment. In a time where there's too much money, something like #crypto, specifically #Bitcoin and #Ethereum, that will have value at some point." pic.twitter.com/9ZE8gQitpx
— Squawk Box (@SquawkCNBC) October 10, 2022

Jones now sees a new frontier that is abundant with possibilities. Although more established investors don’t often embrace financial innovation, Jones said, “it’s hard not to be long crypto” in an interview with Bloomberg.

There’s a lot of speculation around it, but I think the underlying technology is pretty good.

Other notable crypto investors include Mark Cuban, who has invested in several Bitcoin-based startups, and Reid Hoffman. He is the co-founder of LinkedIn and a significant investor in companies like Airbnb and Tesla (NASDAQ:TSLA).

Jones believes that Bitcoin has the potential to become a significant currency and is excited about the possibilities it presents for the future of finance. Jones, one of the most well-known investors in the world, believes that a more digital world and the reality of monetary-policy experimentation will increase demand for an asset like Bitcoin and cause its price to rise “far higher than it is today.”

According to Jones, purchasing at current prices could be an excellent way to prepare for a possible long-term economic downturn.

The post Billionaire Paul Sees The Silver Lining in BTC Despite 60% Fall appeared first on Coin Edition.

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