I Like Bitcoin as a Portfolio Diversifier, Says Tudor Jones

Paul Tudor Jones became the latest American hedge fund manager to support Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term as a portfolio diversifier. The Founder of Tudor Investment Corporation said that he would like to allocate around 5% of his investment portfolio to Bitcoin.

In a recent interview with CNBC, Tudor Jones said that the world‘s largest cryptocurrency is an interesting investment tool. “Bitcoin is math, and math has been around for thousands of years. I like the idea of investing in something that is reliable, consistent, honest and 100% certain. BTC has appealed to me because it is a way to invest in certainty. I like Bitcoin as a portfolio diversifier. The only thing I know for certain, I want 5% in gold, 5% in BTC, 5% in cash, 5% in commodities,” Tudor Jones told CNBC.

Tudor Jones is one of the well-known hedge fund managers in the US. According to the latest data published by Forbes, he has a net worth of more than $7 billion.

BTC is getting popular among billionaires and prominent hedge fund managers. Last week, Ken Moelis, the Founder of investment banking firm, Moelis and Company, compared Bitcoin with the gold rush of 1848 and highlighted a significant interest in BTC and other Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term.

Bitcoin Mining

Despite his support for Bitcoin as a portfolio diversification tool, Tudor Jones expressed his concerns reading the environmental impact of Bitcoin mining. “I am concerned about BTC mining because of its environmental impact. If I was king of the world, I would ban Bitcoin just because of the environmental issues and then just make the ecosystem figure out different ways to do BTC mining without expanding supply anymore. That’s what I would do,” he added.

Yesterday, the price of the world’s most valuable digital currency crossed $40,500 for the first time in June 2021. As of writing, Bitcoin is trading above $40,200 with a market cap of more than $750 billion.