RATE Group | Paul Tudor Jones’s Bitcoin Bet Brings it Closer to Central Bank Balance Sheets
88739
post-template-default,single,single-post,postid-88739,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Paul Tudor Jones’s Bitcoin Bet Brings it Closer to Central Bank Balance Sheets

20 May Paul Tudor Jones’s Bitcoin Bet Brings it Closer to Central Bank Balance Sheets

Posted at 07:40h in Cryptocurrency News by

Byrne Hobart, a CoinDesk columnist, is an investor, consultant and writer in New York. His newsletter, The Diff (diff.substack.com), covers inflection points in finance and technology. 

The bull case for bitcoin as a store of value is simple: at first nobody owns it. Then it’s owned by people who are some combination of crazy and smart, but generally crazier than they are smart. Over time the craziness requirement drops, more investors buy it and it becomes dumb not to own a little. Since existing monetary systems are necessarily optimized for the status quo – and the dollar is, in fact, very well optimized for a globalized world with a hegemonic United States – an alternative system like bitcoin is necessarily a bet on a weirder world.

We certainly live in a weird world today.

And some sophisticated money managers are taking notice.

See also: Hedge Fund Pioneer Turns Bullish on Bitcoin Amid ‘Unprecedented’ Monetary Inflation

Paul Tudor Jones II, a well-regarded global macro…

Source link

Tags:
, , , , , , , , , ,