The Bitcoin could be the best hedge against Inflation. The hedge Fund, according to BTC refers even Gold on the courts
The well-known hedge Fund Manager Paul Tudor Jones is betting on the Bitcoin (BTC), when it comes to the search for the best hedging mechanism against Inflation. The billionaire Investor compares Bitcoin with a gold rush in the 1970s.
Paul Tudor Jones said his company, Tudor BVI Global Fund to buy Bitcoins to protect themselves from the “great Inflation”, the report before standing in the world, according to Bloomberg.
In an investor Letter from the may, Jones writes, Tudor BVI have received the green light for a purchase, in Relation to the company’s total assets will be located in the lower single-digit percentage range.
The Manager of BVI Fund, Tudor Investment Corp., estimated the total assets under management to USD 38 billion dollars. Approximately 22 billion USD are stuck in the said Fund.
Tudor Investment’s CEO, Jones points out that because of economic problems enabled printing systems, the governments will soon lead to a massive increase in monetary inflation. Of a quantity of money in the amount of up to 3.9 trillion US dollars, Jones as a back-run totals since the beginning of the COVID-19-crisis in February.
Even though a true market veteran, comes to Jones to present conditions little. He himself was “speechless”, the development of inflation, the industry would be unprecedented and is something experienced by that country in this Form, never.
Although he is a market veteran, says Jones, that the current circumstances have made him “speechless” and that Inflation was “unprecedented” and something that the industry had seen countries never.
The billionaire, speaking in his to the investor-oriented comment from a gloomy scenario, the call to the “best possible strategy to maximize profits”.
This goal can only mean to put on the “fastest horse”. If he’d asked for a forecast, his answer was, and bet that Bitcoin will take on this role, said Jones. In addition, the billionaire remarked to his investors, the Bitcoin reminded him of the situation in the gold market in the 1970s.
He could be right. The precious metal reached the beginning of the 70s, in fact, huge profits that is in Parts quite similar to the BTC development in the past few years. First introduced in 2009, increased the crypto-currency from an initial price close to Zero in the direction of an all-time high, which he recorded in the year 2017 at $ 20,000.
Despite its Decline in the year 2018 and the continuing high volatility, has secured the Bitcoin more and more attention since the “glory days”. Gold it was in the 1970’s, similar to a rapid increase in the period from 1971 to 1974. At that time, the gold price rose per fine ounce from US $ 35 to more than 180 US dollars.
Gold predicts Jones a rosy time. He expects that the price of currently 1,731 K,80 USD per ounce soon to 2,400 USD could rise. In addition, it is conceivable that there could be phases with prizes of up to 6,700 USD as in the 80s.
In a few days a event before the Bitcoin Community that the metric of the offers can make a huge difference and a price boom could trigger. The “Digital Gold” achieved achieved the mark of US $ 10,000. An indication that the upward trend is picking up speed gradually. Some analysts and observers, the price developments are expected to increase over the Bitcoin records from the year 2017, even with a six-digit price in a time frame of three to five years, some experts and optimists for possible.
