Billionaire hedge fund manager Paul Tudor Jones was on CNBC today and said that a Democratic sweep in the elections may result in an initial pop in equity markets, causing an eventual rally in the 1Q of 2021 are the “Robinhooders” start throwing money at any stock that has a heartbeat. However, Paul things that the rally will be short lived after Wall Street realizes that what Biden wants to do tax wise, will erodes profits.
Now Paul has been a successful trader for decades, so when he talks, I listen. Several months ago, Paul said bitcoin reminds him of the role gold played in the 1970s. Paul was one of the few traders that profited from Black Money in 1987. Paul believes bitcoin will serve as a hedge against a jump in inflation due to central banks printing money around the world. Today, he added on to why he remains bullish on bitcoin.
Famed Wall Street investor and billionaire Paul Tudor Jones said that he likes Bitcoin "even more than I did then,” referring to his initial investment announced in May 2020.
“Bitcoin has this enormous contingence of really, really smart and sophisticated people who believe in it,” Jones added. “It’s like investing with Steve Jobs and Apple or investing in Google early.”
I personally know that Bitcoin is like investing in Apple and Google early on. A $1000 investment in Apple not when the company went public, but when Steve Jobs unveiled the original iPhone at MacWorld 2007, would be close to $41,000 today. Regarding Google, I know all too well because I had an opportunity to invest in Google at the IPO, but I said I wasn’t spending $1000 to buy 10 shares. Well, silly me because that $1000 investment would be worth $6,100.
I learned by lesson, this is my opportunity to make up for lost time and I’m not going to disappoint myself because the risks is not having any bitcoin. So this past week, I decided to go all in and now I can proudly say, I own one whole bitcoin. What's next...it to find more fiat to buy Bitcoin before the exchanges don't have anymore to sell.
This post is my personal opinion. I’m not a financial advisor, this isn't financial advise. Do your own research before making investment decisions.
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