Categories: Bitcoin News (BTC)

BitMEX CEO Expects Investors to Follow Jones’ Move to Buy Bitcoin

Arthur Hayes, CEO of the world’s second-largest crypto exchange, BitMEX, among many other traders and industry players expect Paul Tudor Jones’ move published yesterday to bring bigger investors into the crypto market, especially Bitcoin.

Paul Tudor Jones, the billionaire and founder of Tudor Investment Corporation hedge fund, triggered massive excitement in crypto markets by revealing that his portfolio includes Bitcoin (BTC).

Hayes says Jones just took career risk away from investing in cryptos like Bitcoin. “Expect a lot of beta fund managers to begin cooking some copypasta,” Hayes tweeted.

Jones Paves Way for Hedge Fund Managers to Invest in Bitcoin

BitMEX CEO is not alone in thinking that Jones’ method of hedging against inflation risks will be followed by more institutional investors. Bitcoin baller from CNBC, Brian Kelly, or BK, and Fast Money traders from CNBC discussed the potential impact of Bitcoin news from the billionaire investor.

Karen Finerman, Metropolitan Capital Advisors’ co-founder and CEO, and a CNBC Fast Money panelist, also believes that Jones is paving the way for more hedge funds and mainstream investors to get into Bitcoin. Finerman outlined that now that Jones has invested in it, people will feel safer buying Bitcoin:

“Nobody wants to get outed having owned Bitcoin if it completely falls apart. But if you can say that Jones owns it also, maybe that gives you a little bit of cover.”

Jones said Bitcoin is reminding him of the crucial role that gold played in the 1970s economic crisis. Because of its common features, such as a capped supply, both Bitcoin and gold can do well in the current economic environment, according to CNBC’s BK. However, the Bitcoin analyst at CNBC says that because of its digital and mobile nature, Bitcoin will play a bigger role in the current environment. Kelly also outlined a “much higher upside” for Bitcoin and a better risk-to-reward.

Major crypto exchange in the United States, Coinbase, released a report on May 2 arguing that the pandemic-fueled crisis will make Bitcoin superior to gold.

Abdulhay Mahmoud

Abdulhay Mahmoud is a creative writer with over 15 years of experience in journalism, translation, and investor relations. He has B.A in English and Literature from a reputable University. He recently became a contributor at Cryptolydian.com to fulfill his thirst in reporting digital coins and blockchain-related news, an interest was built over the years.

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