Did Paul Tudor Jones Change His Bitcoin Price Prediction Today?
Hedge fund billionaire Paul Tudor Jones was one of the most vocal Bitcoin bulls in 2020. Today he stated 'I still have a minor allocation to Bitcoin', and that he always will.
CoinDesk has referred to that as a 'tamping down' of his former 'Bitcoin bullishness'. Paul Tudor Jones went on to say cryptocurrencies, specifically Bitcoin and Ethereum, 'will have value at some point', but that he doesn't know 'when that will be'.
When pressed by the interviewer on CNBC's Squawk Box, he did agree that their value will be 'much higher'. Some sources such as Bitcoin Magazine and Will Clemente saw his remarks as an overall positive.
Some of the philanthropist's past comments have not been specific Bitcoin price predictions in terms of a dollar amount, but have been very optimistic:
'Bitcoin has a lot of characteristics of being an early investor in a tech company. I think we are in the first inning of Bitcoin. It’s got a long way to go. Buying Bitcoin is like investing with Steve Jobs and Apple or investing in Google early.
Bitcoin has this enormous contingent of really, really smart and sophisticated people who believe in it. I came to the conclusion that Bitcoin was going to be the best of inflation trades, the defensive trades, that you would take.' - Forbes, Oct 2020
At the time of those comments, the Bitcoin price was trading at around $13,000 - shortly before its bull run to a new all time high of $65,000 in April - followed in November 2021 by $69,000.
The Bitcoin price today is $19,000 - is Paul Tudor Jones more pessimistic at these higher levels, in a macro downtrend amid rising inflation and recession fears?
The short CNBC interview may not be enough to gauge whether Paul Tudor Jones is bullish or bearish in the short to mid
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