Macro investor and hedge fund legend Paul Tudor Jones is buying Bitcoin as a hedge against inflation he believes is coming from central banks around the world printing massive amounts of money. He goes as far as telling clients that Bitcoin reminds him of the role gold played in the 1970s and goes against Ray Dalio's belief that "Cash is King" right now. Jim Simons has made quite the haul on Tesla stock lately.
Jones' Tudor BVI fund may hold as much as a low single-digit percentage of its assets in Bitcoins, becomes one of the first big hedge fund managers to publicly embrace Bitcoin and swings the door wide open for others to follow. Other fund managers will follow as Jones has now provided "cover" to those managers looking to enter the space. Speaking of other managers, Seth Klarman at Baupost Group called the sell off perfectly.
For those interested, Paul Tudor Jones entire Bitcoin thesis is posted below. Enjoy.