Paul Tudor Jones Can Pump Bitcoin, BitMEX Says
The crypto market looks pretty bloody today, with the most important coins trading in the red.
At the moment of writing this article, the most important coin out there is also trading in the red, and BTC is priced at $9,352.55.
Paul Tudor Jones uses his reputation to boost Bitcoin
Chief executive of BitMEX, Arthur Hayes says that the billionaire hedge fund manager Paul Tudor Jones is using his reputation as a top trader to boost Bitcoin.
Last month, you may recall that Jones shocked the investment world after announcing that he invested about 2% of his assets in BTC futures.
Now, in a recent BitMEX blog post, Hayes praises Jones as an extraordinary trader who is willing to bet against the herd and predicts Jones’ entry into the crypto market will be playing a massive role in convincing other big players to follow his steps.
“Paul Tudor Jones (‘PTJ’) is a trader with a capital fucking T. His homage to why inflation is coming and Bitcoin is a possible way to outperform inflation in the coming years is very important because it removes career risk from fund managers owning Bitcoin risk,” he said.
Big players can create accepted natives about investments
Hayes continued and said that such big players are able to create widely accepted narratives about a certain investment and this is what Jones is doing with Bitcoin these days.
“The exceptional investor invests in heretical themes, and sells once those themes become orthodox. The average investor invests in orthodox themes, and sells once those themes become irrelevant,” he continued and said as cited by the online publication the Daily Hodl.
Check out the entire notes written by Hayes in order to learn what more he had to say.
There have been all kinds o optimistic predictions regarding the price of BTC these days, and the most recent one explained why the king coin would hit $50k soon.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.