Billionaire hedge fund manager, the founder of Tudor Investment, Paul Tudor Jones believes that Bitcoin and Ether will grow in price in a post-recession market.
In an interview with CNBC’s Squawk Box, he said that cryptos could see essential growth in the future. Talking about the global economy and recession, Jones said he finds that central banks had been implementing massive monetary policy experiments in the years after the Global Financial Crisis.
According to the entrepreneur, suppressed yields and pandemic relief packages were products of monetary and fiscal experimentation.
Paul Tudor Jones believes that high inflation rates may be the reason for crypto prices to increase. He says in a time when there's too much money, and inflation, something like crypto, in particular, Bitcoin and Ether will have value at some point due to their limited amount. Jones mentioned that he always holds a small allocation of BTC.
Currently, the price of the largest crypto is below $20,000. Bitcoin trades at about $19,000 and Ether at $1,200.