Paul Tudor, a billionaire and hedge fund manager, predicts that cryptos have a very bright future even as the Federal Reserve raises interest rates to counter the growing inflation. He further emphasized that it is very difficult not to consider long-term investment/ trading positions.
A Successful Fund Manager, Paul Tudor’s Take on Bitcoin, Cryptos
Billionaire investor and the founder of Tudor Investment Corp, Paul Tudor, has given his take on cryptos during an interview with CNBC. “I see this generational divide, and it’s a digital divide,” Tudor said. He added that the smartest and brightest minds are getting out of college today and going to cryptos and Web3.
“It’s hard not to want to be long because of the intellectual capital that, just the sheer amount of intellectual capital going into that space,” Tudor emphasized.
In addition, Tudor said that when you think of the ultimate objective of cryptos, a borderless internet where everything suddenly converges with the blockchain as the verification core to allow everyone to instantly connect, it opens up a huge deal of possibilities. However, he cautioned people not to expect central banks and governments to be fans, especially when the cryptos are adopted as a medium of exchange.
In a new world dispensation where we are looking forward to creating a borderless internet, plugging in a store of value that is outside the fiat currencies is very attractive. Tudor revealed that he has a modest allocation to cryptos. In his view about the future of cryptos, here is what he had to say:
“I would think it is going to have a very bright future as we roll through these rate hikes … a lot of it depends on how serious we are on fighting inflation,”
Tudor was one of the first hedge managers to encourage the addition of Bitcoin in investment portfolios. In October 2021, Tudor indicated that he preferred cryptos to gold as one of the top hedges against inflation.
