Billionaire investor Paul Tudor Jones wants to have 5% of his assets in bitcoin
June 14, 2021, 10:28AM EDT
1 min read
Billionaire investor Paul Tudor Jones has said that he likes bitcoin as a portfolio diversifier and wants to allocate 5% of his assets into the cryptocurrency.
"Bitcoin is math, and math has been around for thousands of years, and two plus two is going to equal four, and it will for the next two thousand years. So I like the idea of investing in something that's reliable, consistent, honest, and 100% certain," said Tudor Jones in an interview with CNBC on Monday.
When asked if he likes bitcoin at current prices, Tudor Jones, the founder, chairman, and CIO of Tudor Investment Corporation, said: "I know for sure I want to have 5% in gold, 5% in bitcoin, 5% in cash, 5% in commodities." The rest 80% allocation would depend on what the U.S. Federal Reserve will do in its upcoming policy meeting this week, said Tudor Jones, because "what they do will have a big impact."
Tudor Jones is already an investor in bitcoin. Last year, he said he has almost 2% of his assets in the cryptocurrency. It is not clear whether the investor, whose net worth is around $7 billion, has increased his bitcoin allocation since then.
Tudor Jones also expressed his concerns on bitcoin's environmental impact in Monday's interview. He said: "If I was king of the world, I'd ban bitcoin mining just because of the environmental impact and make the ecosystem figure out a way to do it without expanding supply anymore at all."
Bitcoin is currently trading above $40,000, a price it reached again for the first time in over two weeks.
Gemini Galactic, an affiliate of cryptocurrency exchange Gemini, received approval from the Financial Industry Regulatory Authority (FINRA) to operate a broker-dealer registered with the SEC and is now a FINRA member.