The founder of Tudor Investment Corporation, Tudor Jones, said that he would like to allocate around 5% of his investment portfolio to Bitcoin. In a recent interview with CNBC, the American hedge fund manager said that the world’s largest cryptocurrency is an interesting investment tool. Paul Tudor Jones is the latest American hedge fund manager to support Bitcoin as a portfolio diversifier.
“I like Bitcoin as a portfolio diversifier.”
“Bitcoin is math, and math has been around for thousands of years. I like the idea of investing in something that is reliable, consistent, honest, and 100% certain. BTC has appealed to me because it is a way to invest in certainty. I like Bitcoin as a portfolio diversifier. The only thing I know for certain, I want 5% in gold, 5% in BTC, 5% in cash, 5% in commodities,” Tudor Jones said in the interview. According to the latest data published by Forbes, Jones has a net worth of more than $7 billion.
Tudor Jones expressed concern about bitcoin mining’s environmental impact.
Earlier, Ken Moelis, founder of investment banking firm Moelis and Company, compared Bitcoin with the gold rush of 1848 and highlighted a significant interest in BTC and other cryptocurrencies. Despite getting support from billionaires, bitcoin has been getting criticized for its environmental impact. “I am concerned about BTC mining because of its environmental impact. If I were king of the world, I would ban Bitcoin just because of environmental issues and then make the ecosystem figure out different ways to do BTC mining without expanding supply anymore. That’s what I would do,” Tudor Jones said during the interview about bitcoin mining and its impact on the environment. Earlier, Tesla CEO Elon Musk also said that once bitcoin miners use more clean energy, Tesla would resume bitcoin transactions.