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Home Technical analysis BTC

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

Tony Spilotro by Tony Spilotro
6 months ago
in BTC
Reading Time: 2min 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.

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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
Tags: applebitcoinbtcbtcusdbtcusdcBTCUSDTcryptogooglepaul tudor jonessteve jobsxbtxbtusd
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Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a global remote work leader with a decade of award-winning content experience and excellence. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck - literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn't yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can't yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter and feel free to drop me a line if you would like to work together.

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