July 25, 2021

Billionaire Paul Tudor Jones says he will invest in bitcoin to protect his wealth and the price of the currency exceeds $ 40,000

Published:

14 jun 2021 23:00 GMT

The billionaire and philanthropist’s comments came shortly before bitcoin surpassed the $ 40,000 threshold, peaking at $ 40,949.

The price of bitcoin spiked above $ 40,000 on Monday after billionaire and philanthropist Paul Tudor Jones assured that cryptocurrency is a great way to preserve your capital and protect it from inflation.

“I like bitcoin like portfolio diversifier. Everyone asks me: ‘what should I do with my bitcoin?’ The only thing I know for sure is that I want 5% in gold, 5% in bitcoins, 5% in cash, 5% in raw materials, “said the businessman speaking with the ‘Squawk Box’ program on CNBC. .

Jones sees the currency as a way to “protect” his wealth over time. “This is again a great opportunity for diversification, to preserve capital,” he adds.

The investor hinted that he could increase the share of “inflationary” instruments if the monetary authorities ignore the recent jump in the prices of consumer products. “Yes [las autoridades] they say: ‘let’s go on the trajectory [de una subida temporal de la inflación], everything is fine ‘, then I will go for everything: I will consider the possibility of buying gold, cryptocurrencies and quoted commodities, “he explained.

The comments of the founder of the investment fund Tudor Investment Corporation occurred shortly before bitcoin crossed the threshold of $ 40,000, reaching a peak of $ 40,949, around 16:00 GMT, according to data from the Coindesk portal. Then, it has regressed and was trading at $ 40,098 as of the publication of this article.

This new bullish phase of the cryptocurrency began this Sunday with a growth of 11.06%, to $ 39,204, preceded by a tweet from Tesla co-founder Elon Musk, who promised that the company will once again allow transactions in bitcoins once once your mining becomes more ecological and guarantees “a reasonable use (of about 50%) of clean energy”.

In the last six months, bitcoin has undergone dramatic changes. At the beginning of the year, it traded above $ 29,000 before registering a historical peak on April 14, when it reached $ 64,863. Later in May, it plunged more than 50% to $ 31,227, before recovering this week to top $ 40,000.

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