Paul Tudor Jones Buys Bitcoin As A Hedge

Paul Tudor Jones, a large hedge-fund manager and founder of Tudor Investment Corporation, says he is buying bitcoin.

He says that Bitcoin is a an inflation hedge against “great monetary inflation,” and reminds him of gold in the 70s.

“The best profit-maximizing strategy is to own the fastest horse,” says Jones in a letter to his investors. “If I am forced to forecast, my bet is it will be Bitcoin.”

He says his $22B Tudor BVI fund may hold as much as low single-digits of its assets in Bitcoin futures.

Bitcoin is trading today at $9,846 just before 2pm as per CoinBase. Bitcoin has rallied since this morning trading.

This announcement was originally reported via Bloomberg.