As of late October 2020, billionaire hedge fund manager Paul Tudor Jones revealed that he owns around 1% of all outstanding Bitcoin. This means that Jones owns approximately $5.
8 billion worth of Bitcoin, making him one of the largest known institutional holders of the cryptocurrency.
Jones’ investment in Bitcoin is part of a larger trend of institutional investors increasing their exposure to the asset class in recent months. Jones himself has said that he believes Bitcoin is in the early stages of a long-term bull market that could see the asset’s price rise to $500,000 or more over the next few years.
There are a number of reasons why Jones and other institutional investors are turning to Bitcoin. Firstly, Bitcoin’s fixed supply makes it an attractive store of value in an era of quantitative easing by central banks around the world.
NOTE: This warning is to remind readers that Paul Tudor Jones does not publicly disclose the amount of Bitcoin he owns. Any information posted online about the amount of Bitcoin owned by Paul Tudor Jones should be taken with a grain of salt and verified with reliable sources before being believed.
Secondly, Bitcoin is becoming increasingly mainstream, with a growing number of businesses and financial institutions beginning to accept it as payment.
It remains to be seen how much further Jones and other institutional investors will increase their exposure to Bitcoin, but it is clear that the asset is becoming more and more popular with the investment community.
In conclusion, Paul Tudor Jones owns around 1% of all outstanding Bitcoin, which equals to approximately $5.8 billion worth of the cryptocurrency.
With central banks printing more money and businesses beginning to accept Bitcoin as payment, it’s likely that Jones and other institutional investors will continue to increase their exposure to the asset class in the months and years ahead.
10 Related Question Answers Found
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