Did Paul Tudor Jones Change His Bitcoin Price Prediction Today?
Hedge fund billionaire Paul Tudor Jones was one of the most vocal Bitcoin bulls in 2020. Today he stated ‘I still have a minor allocation to Bitcoin’, and that he always will.
CoinDesk has referred to that as a ‘tamping down’ of his former ‘Bitcoin bullishness’. Paul Tudor Jones went on to say cryptocurrencies, specifically Bitcoin and Ethereum, ‘will have value at some point’, but that he doesn’t know ‘when that will be’.
When pressed by the interviewer on CNBC’s Squawk Box, he did agree that their value will be ‘much higher’. Some sources such as Bitcoin Magazine and Will Clemente saw his remarks as an overall positive.
Paul Tudor Jones’ 2020 Bitcoin Price Predictions
Some of the philanthropist’s past comments have not been specific Bitcoin price predictions in terms of a dollar amount, but have been very optimistic:
‘Bitcoin has a lot of characteristics of being an early investor in a tech company. I think we are in the first inning of Bitcoin. It’s got a long way to go. Buying Bitcoin is like investing with Steve Jobs and Apple or investing in Google early.
Bitcoin has this enormous contingent of really, really smart and sophisticated people who believe in it. I came to the conclusion that Bitcoin was going to be the best of inflation trades, the defensive trades, that you would take.’ – Forbes, Oct 2020
At the time of those comments, the Bitcoin price was trading at around $13,000 – shortly before its bull run to a new all time high of $65,000 in April – followed in November 2021 by $69,000.
The Bitcoin price today is $19,000 – is Paul Tudor Jones more pessimistic at these higher levels, in a macro downtrend amid rising inflation and recession fears?
Paul Tudor Jones: "In a time where there's too much money & fiscal spending Bitcoin and Ethereum will have value"— Will Clemente (@WClementeIII) October 10, 2022
Interviewer: "And at a value much higher than where we are today?"
PTJ: "Oh yeah I think so."
Big boys understand BTC is a debasement hedge. Cat is out of the bag. pic.twitter.com/c2XCBCXKDv
The short CNBC interview may not be enough to gauge whether Paul Tudor Jones is bullish or bearish in the short to mid term.
Many crypto analysts are predicting that Bitcoin will be range bound and stuck in sideways chop for the remainder of the year and potentially well into 2023.
New Cryptocurrency Assets
While Paul Tudor Jones referenced the two largest cryptocurrency assets, BTC and ETH, newer cryptos still priced under a dollar debatably have more upside potential.
Crowd favorite XRP is possibly on the cusp of defeating the SEC and recovering back above the $1 resistance level.
Brand-new carbon offsetting token IMPT has now passed the $3.1 million mark in its presale.
Meme coin Tamadoge (TAMA) is consolidating around the four cent range after an almost 20x bull run in the last two weeks alone, despite the current crypto winter.