Bitcoin has seen a sharp rebound in institutional interest in recent months.
The coin is currently trading just short of an all-time high of $ 19,500. BTC is expected to rise even higher as the prevalence continues to expand.
Paul Tudor Jones has now publicly blessed Bitcoin again.
Jones believes that BTC’s market cap is undervalued compared to other asset classes.
Paul Tudor Jones speaks out in favor of Bitcoin again
Bitcoin has seen a sharp rebound in institutional interest in recent months. The coin is currently trading just short of an all-time high of $ 19,500. BTC is expected to rise even higher as the prevalence continues to expand.
Paul Tudor Jones, a billion dollar Wall Street investor, could accelerate the adaptation even further – because he continues to speak out in public for Bitcoin .
The famous investor considers Bitcoin to be an extremely profitable investment in this world of macroeconomic inflation. Bitcoin will be the „fastest horse in the race“ when it comes to large asset classes such as stocks, commodities and bonds.
Now he has again emphasized his support for Bitcoin and stated in an interview that the market capitalization of the coin is severely undervalued when looking at macroeconomic trends:
„With a market cap of $ 500 billion, it’s the wrong market cap in a world with $ 90 trillion in equity and who knows how many trillion fiat currency … it’s the wrong price for the opportunities it has.“
Tudor Jones also believes that investing in Bitcoin is like investing in Google or Apple at the beginning of their life. He also compares the current Bitcoin space with the technology space in the 1990s and early 2000s.
Additional support from Wall Street
Tudor Jones‘ positive comments about Bitcoin follow increased engagement from Wall Street investors.
Stanley Printmiller, one of Tudor Jones‘ competitors and another multi-billion dollar financier, told CNBC a few weeks ago:
“Bitcoin could be an asset class that is very attractive as a store of value to both millennials and West Coast new money, and as you know, they have a lot of them. It’s been around for 13 years, and every day it’s becoming more stable as a brand. “
Many think Wall Street interest will drive Bitcoin well beyond current prices, into the $ 100,000 region and beyond.
For example, Raoul Pal of Real Vision believes that the cryptocurrency could reach $ 500,000 in the coming years due to this institutional support alone.