Legendary hedge fund manager Paul Tudor Jones says he's still hanging on to his bitcoin and always will.
Legendary hedge fund manager Paul Tudor Jones said he's still hanging on to his bitcoin and always will. The founder of Tudor Investment and New York City's Robinhood Foundation told CNBC's "Squawk Box" Monday that he's "never sat on a horse that long." Jones began buying the cryptocurrency in 2020 as a hedge against inflation. At the time, he compared it to the gold trade back in the 1970s.
That's one of the main selling points for investors, who hope that as more people buy more of it, it will become more scarce and its value will increase further. Bitcoin reached an all-time high of more than $68,000 in 2021 and crashed down to the $15,000 level the following year. It's currently trading at about $27,000, according to Coin Metrics.
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