Bitcoin Message Noting From The Name That Manages The 38 Billion Dollar Fund.
One of the pioneers of the modern hedge fund industry, Paul Tudor Jones, is reportedly betting on bitcoin price as a hedging tool. It is unclear exactly how. Jones’ fund, Tudor Investment, manages $ 38 billion, according to a report outlining a note sent to investors by Bloomberg News on Thursday.
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It is not clear whether Tudor’s fund has started to buy futures, what type (traded as physically delivered or paid in cash), also on which stock market to trade, or whether to plan trading with the underlying commodity.
Jones was one of the first recognized hedge fund managers to launch the Tudor Investment Company at the age of 25 in 1980. Just before the market collapsed, by naming the 1987 accident correctly and a few years later by shortening the Japanese stocks, it gave a name and a significant return on its behalf.
Since then, hedge has become an expert personality for the fund world. The Robin Hood Foundation, which he created with his charitable efforts, has become a source of pride with financial giants in management and famous people.
According to the report, Bitcoin reminds Jones of the gold in the 1970s. The rise of gold , which started from $ 35 in the early 1970s, continued until the end of the 1974s and there was a rally up to $ 180.
The unprecedented central bank monetary policy amidst the coronavirus crisis is the primary reason Jones’ interest in bitcoin.
What he calls the ongoing “Big Money Inflation” left himself speechless as a market veteran. Jones emphasized to his clients that unprecedented expansion of all kinds of money, unlike anything the world has seen.
The explanations are exactly the time when bitcoin is rising
Jones’s statement came in the middle of the all-time high, with CME bitcoin futures open to almost $ 400 million on Wednesday, according to Skew. Bitcoin also rallied at around 10% on Thursday, rising from $ 9,000 to just under $ 9,900 during broadcast.
The low single digit percentage of Tudor Investment Corp.’s assets investing in bitcoin futures will be equal to almost all open positions of CME bitcoin futures contracts at the time of publication. “I’m not a money or crypto lover,” says Jones, who writes to his clients. However, Jones sees the most compelling argument for investing in Bitcoin as “digitizing the currency everywhere accelerated by Covid-19”.