Hedge fund billionaire Paul Tudor Jones says the price of Bitcoin (BTC) и Етхереум (ETH) will eventually rise from their current bear market ranges.
In a new interview, the Tudor Investment Corporation founder tells ЦНБЦ that he believes the US has likely already entered a recession or is about to enter one.
“I don’t know whether it started now or it started two months ago. We always find out and we are always surprised at when a recession officially starts, but I’m assuming we are going to go into one.”
Jones, who says he has a small allocation of Bitcoin, says that he can see cryptocurrencies faring well over the next decade in an environment of high government spending and fiscal entrenchment.
“Whoever is the President in ’24 is going to be dealing with debt dynamics that are so dire… So dire that we’re going to have to have fiscal retrenchment … If you think about the teens, which was all about suppressing yields, I think the 20s will be just the opposite. I mean higher term premiums in bond markets, higher term premiums in stock markets. There’ll be just the opposite of what we experienced the last decade.
So in a time when there’s too much money, which is why we have inflation, and too much fiscal spending, something like crypto, specifically Bitcoin and Ethereum, where there’s a finite amount of that, that will have value at some point. Someday, I don’t know when that will be, but it will have value, that scarcity premium.”
When asked if the price of BTC and ETH would increase from where they are currently, Jones said:
“Oh, I think so, yes.”
Jones also tells CNBC that when the Federal Reserve softens its hawkish position, market conditions will turn bullish for assets beaten down by tight policy, including digital assets.
“There will be a point when the Fed stops hiking. There will be a point when it starts to either slow down or even at some point it’ll reverse those cuts and when that happens, you’ll probably have a massive rally in a variety of beaten down inflation trades including crypto.”
„Увек сам имао малу расподелу #Битцоин“, каже @птј_оффициал. „Мораћемо да имамо фискално смањење. У време када има превише новца, нешто као #црипто, посебно #Битцоин #Етхереум, то ће у неком тренутку имати вредност.” пиц.твиттер.цом/9ЗЕ8гКитпк
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Сурф Даили Ходл Мик
Изјава о одрицању одговорности: Мишљења изнета у Даили Ходлу нису савети за улагање. Улагачи би требали обавити своју дужну опрему прије него што уложе у високе ризичне инвестиције у битцоин, крипто валуту или дигиталну имовину. Имајте на уму да су ваши трансфери и трговине на сопствени ризик, а за све губитке који могу настати одговоран сте. Даили Ходл не препоручује куповину или продају било које крипто валуте или дигиталне имовине, нити Даили Даили Ходл није саветник за инвестирање. Имајте на уму да Даили Ходл учествује у аффилиате маркетингу.
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Source: https://dailyhodl.com/2022/10/10/investing-legend-paul-tudor-jones-says-bitcoin-and-ethereum-will-go-much-higher-in-price-heres-why/