Macro investor Paul Tudor Jones said that he has “a little over 1%” of his assets in bitcoin during a Monday morning appearance on CNBC.
“Bitcoin, I think it’s great speculation. I’ve got a little over 1% of my assets in bitcoin, maybe it’s almost 2, that seems like the right number,” said the founder and chief investment officer of Tudor Investment Corp. during the interview.
However, Jones also noted that his approach to bitcoin is “conservative.”
“When I think of bitcoin I look at it as one tiny part of the portfolio, it may end up being the best. It may end up being the best performer of all of them, I think it may be. I am very conservative. I am going to keep a tiny percent of my assets in it and that’s it,” Jones said.
Jones shocked the market last week when he struck a bullish tone on bitcoin in an investor letter and said that his Tudor BVI fund had taken steps toward purchasing bitcoin futures. Forbes estimates that Jones has a net worth of $5.1 billion.
In the letter, he made a strong case for buying bitcoin, saying that it may be the “fastest horse” in the market.
“Quite often, how the markets respond will be at odds with your priors. But remember, the P&L always wins in the long run. With that in mind, in a world that craves new safe assets, there may be a growing role for Bitcoin,” Jones noted in the letter.
In the interview with CNBC, the investor reiterated this thesis.
“We’re watching the birthing of a store of value. And whether that succeeds or not, only time will tell,” Jones said.
The headline of this post has been updated.
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