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Breaking News: Bitcoin Price Slips Below $108,000: Peter Schiff Anticipates ‘Brutal’ Bear Market, CZ Responds
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Breaking News: Bitcoin Price Slips Below $108,000: Peter Schiff Anticipates ‘Brutal’ Bear Market, CZ Responds

Paul Tudor Jones: Bitcoin Is In First Inning, Like Investing In Apple Or Google Early

Tony "The Bull" Severino
Tony "The Bull" Severino
1 year ago
2 mins read
bitcoin paul tudor jones google steve jobs apple

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Earlier this year, billionaire hedge fund manager and philanthropist Paul Tudor Jones set off the institutional buying trend after he claimed Bitcoin would be the “fastest horse in the race against inflation.”

After the crypto asset’s recent rally, Jones was invited to comment on the price action on CNBC. There, he says he likes Bitcoin even better now than he did then, and claims it is still the “first inning,” comparing it to investing in Apple or Google “early.”

Paul Tudor Jones: “It Is Like Investing With Steve Jobs In Apple Or Investing In Google Early”

When Paul Tudor Jones revealed that he was considering using Bitcoin as a hedge against inflation, given its scarce, 21 million BTC supply, he at that point hadn’t fully understood the space.

Jones, in a new segment with CNBC regarding Bitcoin’s big bullish impulse yesterday, says he likes even Bitcoin better now. He still believes in the cryptocurrency’s use as a hedge against the dollar’s demise, but has since been impressed by the “kicker,” he calls “great intellectual capital” that backs Bitcoin.

“It’s like investing with Steve Jobs in Apple or Google early”

Can we just let PTJ run the marketing department from here on out? pic.twitter.com/kNVnKymg6U

— Felix Hartmann 🦇🔊 (@FelixOHartmann) October 22, 2020

He says it’s the only inflation hedge that comes equipped with a crowd-sourced army of geniuses aiming to establish the cryptocurrency as a “commonplace store of value.”

“It is like investing with Steve Jobs in Apple or investing in Google early,” Jones explained.

Since the beginning of 2020, the pandemic and the stimulus required to save the economy have proven Jones’ bet on Bitcoin to be correct.

paul tudor jones bitcoin

Paul Tudor Jones' investment in Bitcoin is up 40% since the time it was announced publicly | Source: BTCUSD on TradingView.com

Early Adopter: Billionaire Hedge Fund Manager Says Bitcoin Is Still In The First Inning, Despite Decade Of ROI

Jones was early in terms of institutional money coming in, and retail investors from the crypto bubble were even earlier, however, the hedge fund manager claims that it is still the “first inning” for Bitcoin.

In baseball, for those that aren’t aware, there are a total of nine innings. Jones’ quote is in reference to just how early it is still to be getting into Bitcoin, despite its rise from a fraction of a penny to $13,000 yesterday.

It is the greatest performing asset of all-time, and the best performer in 2020 – the year of Bitcoin’s perfect storm.

Bitcoin has grown from an experiment in cryptographically, decentralized money, to a respected and mature financial asset. From the days of the dark web and buying pizzas for thousands of BTC, it is now massive publicly trading corporations buying similar sums, but in exchange for millions of dollars instead of dough and a handful of toppings.

Featured image from Deposit Photos, Chart from TradingView.com
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Tony "The Bull" Severino
Tony "The Bull" Severino

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

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Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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