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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.

By Danny Nelson
Updated Feb 10, 2023, 2:48 p.m. Published Dec 3, 2020, 6:47 p.m.
Paul Tudor Jones (Kevin Mazur/Getty Images for Robin Hood)
Paul Tudor Jones (Kevin Mazur/Getty Images for Robin Hood)

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.

Market CapPaul Tudor JonesInstitutional Adoption
Danny Nelson

Danny was CoinDesk's managing editor for Data & Tokens. He formerly ran investigations for the Tufts Daily. At CoinDesk, his beats include (but are not limited to): federal policy, regulation, securities law, exchanges, the Solana ecosystem, smart money doing dumb things, dumb money doing smart things and tungsten cubes. He owns BTC, ETH and SOL tokens, as well as the LinksDAO NFT.

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