Bitcoin Undervalued Relative to Gold, Equities, Tudor Jones Says

The hedge fund manager has 1% to 2% of his multi billion-dollar portfolio in bitcoin.

AccessTimeIconDec 3, 2020 at 6:47 p.m. UTC
Updated Feb 10, 2023 at 2:48 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now

Storied hedge fund manager Paul Tudor Jones is betting on bitcoin as the "brand name" cryptocurrency.

  • Speaking in a Thursday interview with Yahoo Finance, Tudor Jones said that "$500 billion is the wrong market cap [for bitcoin] in a world where you've got $90 trillion equity market cap and God knows how many trillions in fiat currency." Bitcoin's current market cap is $359 billion.
  • Tudor Jones said he is certain that sovereign digital currencies will dominate economies and finance in 20 years. "Cash may be gone," he said, "and so in that world where does bitcoin fit in?"
  • "I'm going to assume that it's at the wrong price for the possibilities that [bitcoin] has and I'm going to assume that the path forward from here is north," said Jones, who compared the difficulty in valuing bitcoin to the difficulty of valuing internet stocks in that sector's early days.
  • He also compared alternative cryptocurrencies to "industrial metals" that may well have market value in the future. But he's personally sticking with the "brand name" crypto, bitcoin.
  • Tudor Jones revealed in May that bitcoin comprises 1% to 2% of his multi-billion-dollar portfolio.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Danny Nelson

Danny is CoinDesk's Managing Editor for Data & Tokens. He owns BTC, ETH and SOL.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.