In the midst of the current coronavirus pandemic, inflation is collapsing around the world. To protect themselves from the risks of inflation, some multi-million dollar investors are buying Bitcoin (BTC).
Paul Tudor Jones, the billionaire founder of the hedge fund, Tudor Investment Corporation, reportedly revealed that Bitcoin is part of his portfolio.
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„If I’m forced to predict, my bet is that it will be Bitcoin.“
According to a May 7 report from Bloomberg, Jones is buying Bitcoin to protect his investments from the inflation that comes from printing central bank money. In a market outlook note titled „The Big Money Inflation,“ the billionaire investor said Bitcoin reminds him of the role that gold played in the economic troubles of the 1970s.
In the note, the 65-year-old investor singled out standards for icos, in san francisco, against naked short selling, addressing regulatory guidance, two beta users, explained in part 1,, explained the efforts, a combative court appearance, cbdc working group, entered the big leagues as the best choice in a profit-maximizing strategy. Jones said:
„The best strategy for maximizing profits is to have the fastest horse […] If I’m forced to forecast, my bet is that it will be Bitcoin.
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According to the report, Tudor BVI, a hedge fund operated by Tudor Investment Corporation, has up to a „low single-digit percentage“ of its assets in Bitcoin futures.
The current crisis is the biggest test for Bitcoin
Jones is not the first to outline Bitcoin’s potential in the midst of the coronavirus crisis and inflation. In March 2020, the major cryptomontage exchange, BitMEX, said that coronavirus inflation would become Bitcoin’s biggest opportunity since its creation in 2009.
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Subsequently, billionaire investor and Bitcoin’s major bull, Tim Draper, also outlined Bitcoin’s crucial role in the midst of the current global financial crisis. On March 16, Draper said that it will be Bitcoin, not the banks and governments, that will save the day.
Meanwhile, Bitcoin’s price continues to rise in anticipation of a major milestone in its history. On May 12, the largest kryptonie will face the third halving of its block reward, meaning that the amount of Bitcoin mined every 10 minutes will drop from 12.5 to 6.25. Trading at a price of $9,816 at the close of this edition, Bitcoin has gained momentum recently, increasing by more than 11% in the last seven days. On January 1, 2020, Bitcoin traded at about $7,200.