Earlier this year Tudor Investment Corporation began buying Bitcoin as a hedge against the inflation they see coming from central bank money-printing, telling clients it reminds them of the role gold play in the 1970s. The longtime trader believes the unprecedented quantiative easing from the Federal Reserve is setting the stage for inflation to make a grand comeback.
“Bitcoin has this enormous contingence of really, really smart and sophisticated people who believe in it. It’s like investing with Steve Jobs and Apple or investing in Google early…Also, the reason I recommended Bitcoin is because it was one of the menu of inflation trades, like gold, like TIPS breakevens, like copper, like being long yield curve and I came to the conclusion that Bitcoin was going to be the best inflation trade,” Jones said.
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