Paul Tudor Jones III, a well-known hedge fund manager, said he will always have a “small” exposure to bitcoin since it is “the only thing that humans can’t adjust the supply in.”
The American billionaire also suggested that the US Federal Reserve will cease its aggressive interest rate hike policy. A lot of experts have previously believed that such a move may be good for the entire cryptocurrency business and raise the value of BTC.
In a recent interview for CNBC, he vowed to always have exposure, praising its fixed supply of 21 million coins ever to exist:
“From the beginning, I’ve always said I want to have a small allocation to it because it’s a great tail event. It’s the only thing that humans can’t adjust the supply in. So I’m sticking with it; I’m going to always stick with it. It’s just a small diversification in my portfolio.”
The current price may seem like a decent time to buy for certain HODLers who have been in the market long enough to see BTC trade at almost $70,000. Jones expressed this when he claimed he “would probably” buy more of it.
In addition, the billionaire touched upon the inflationary environment in the USA and the Fed’s efforts to solve the issue. According to him, the central bank’s interest rate hikes at the beginning of May (bringing the benchmark to 5%-5.25%) were the last one.