RATE Group | Paul Tudor Jones reportedly buys bitcoin as an inflation hedge
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Paul Tudor Jones reportedly buys bitcoin as an inflation hedge

08 May Paul Tudor Jones reportedly buys bitcoin as an inflation hedge

Posted at 03:25h in Cryptocurrency News by

Paul Tudor Jones speaking at the World Economic Forum in Davos, Switzerland, January 21, 2020.

Adam Galica | CNBC

Legendary trader Paul Tudor Jones is reportedly buying bitcoin as an inflation hedge as central banks around the globe print money to relieve coronavirus-battered economies.

Jones, one of Wall Street’s most-successful and seasoned hedge fund managers, revealed in a message that one of his funds holds a low single-digit percentage in futures on the cryptocurrency, Bloomberg News reported. He compared it to the gold trade in the 1970s, according to the report.

Bitcoin futures trading on the CME jumped 5% on Thursday.

Jones, founder and chief executive at Tudor Investment Corp., told CNBC in March that he thought the stock market could be higher by June if coronavirus cases began to peak. The investor said at the time that he expected stocks to endure a choppy April but that, ultimately, equities would again climb.

“I do think the stock market’s going to find a bottom once we…

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