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Billionaire hedge fund manager Paul Tudor Jones says cryptocurrencies, specifically bitcoin and ethereum, will be \u201cat a value much higher than where we are today.\u201d Confirming that he still owns bitcoin, the famed hedge fund manager revealed that he \u201calways\u201d has a small allocation of bitcoin in his portfolio.<\/strong>\n<\/p>\n \n Replying to a question about bitcoin, its use as a hedge against inflation, and whether he still has some BTC<\/a>, Jones said:\n<\/p>\n I\u2019ve always had a small allocation to it [bitcoin] \u2026 In a time where there\u2019s too much money, to much fiscal spending, something like crypto, specifically bitcoin and ethereum, that will have value at some point.<\/p>\n<\/blockquote>\n \n The billionaire was asked whether the crypto he mentioned will be \u201cat a value much higher than where we are today\u201d Jones replied: \u201cOh yeah I think so.\u201d<\/p>\n Jones has been pro-bitcoin<\/a> for quite some time. In May, he said<\/a>, \u201cIt\u2019s hard not to want to be long crypto.\u201d He previously said that he preferred<\/a> crypto over gold as a hedge against inflation. He also got his friend Stan Druckenmiller<\/a> into bitcoin. However, the billionaire chairman and CEO of Duquesne Family Office LLC recently said he no longer holds BTC<\/a>. Nonetheless, Druckenmiller said he \u201ccould see cryptocurrency having a big role in a Renaissance because people just aren\u2019t going to trust the central banks.\u201d\n<\/p>\n \n I don\u2019t know whether it started now or it started two months ago. We always find out and we are always surprised at when recession officially starts, but I\u2019m assuming we are going to go into one.<\/p>\n<\/blockquote>\n \nThe billionaire added: \u201cMost recessions last about 300 days from the commencement of it. The stock market is down, say, 10%. The first thing that will happen is short rates will stop going up and start going down before the stock market actually bottoms.\u201d<\/p>\n Jones further opined:\n<\/p>\n Inflation is a bit like toothpaste. Once you get it out of the tube, it\u2019s hard to get it back in. The Fed is furiously trying to wash that taste out of their mouth. \u2026 If we go into recession, that has really negative consequences for a variety of assets.<\/p>\n<\/blockquote>\nFamed Hedge Fund Manager Paul Tudor Jones Still Owns Bitcoin<\/h2>\n
\nBillionaire investor and renowned hedge fund manager Paul Tudor Jones talked about bitcoin and the U.S. economy in an interview with CNBC Monday. Jones is the founder of asset management firm Tudor Investment Corp. According to Forbes, his current net worth is $7.5 billion.<\/p>\n\n
\n\u201cWe\u2019re going to have to have fiscal retrenchment,\u201d he further noted.<\/p>\nPaul Tudor Jones on the U.S. Economy and Recession<\/h2>\n
\nJones also shared his view on the U.S. economy. Replying to a question about whether we are in a recession, he said:\n<\/p>\n\n
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