Legendary trader Paul Tudor Jones is reportedly buying bitcoin as an inflation hedge as central banks around the globe print money to relieve coronavirus-battered economies.
Jones, one of Wall Street’s most-successful and seasoned hedge fund managers, revealed in a message that one of his funds holds a low single-digit percentage in futures on the cryptocurrency, Bloomberg News reported. He compared it to the gold trade in the 1970s, according to the report.
Bitcoin futures trading on the CME jumped 5% on Thursday.
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