Legendary investor, Paul Tudor Jones, said that Bitcoin is a great diversifier and hedge against inflation during an interview on Squawk Box.
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The main topic of the interview was inflation and how the Federal Reserve is handling the current monetary situation. Jones said that the Federal Reserve has changed its narrative since 2013 and wondered how it could have changed its policy views so much since.
"You wonder why Bitcoin has a $2 trillion market cap and gold is at $1,865 an ounce. And the reason is that you have this dichotomy and policy that again questions the institution's credibility."
Andrew Sorkin then asked Jones his current stance on crypto.
"I like Bitcoin, Bitcoin is math and math has been around for thousands of years. 2+2 is gonna equal 4 and it will for the next two thousand years. I like the idea of investing in something that is reliable, consistent, honest and 100% certain."
Jones continued, saying that because of Bitcoin's mathematical certainty, it has appealed to him in contrast to the unpredictability in the policy of the Federal Reserve, current Presidents and human nature in general.
"Bitcoin has appealed to me because it is a way for me to invest in certainty. Again, I look at the difference between the fed of 2013 and the fed of 2021. I look at the difference between Trump and Biden. Do I want to have faith in that same reliability and consistency of human nature and the linear nature of human nature which we know is anything but that?"
Sorkin asked Jones if he liked Bitcoin at its current price. Jones said Bitcoin is a great diversifier and that it's part of his portfolio.
"I like Bitcoin as a portfolio diversifier. The only thing I know for certain is I want 5% in gold, 5% in Bitcoin, 5% in cash and 5% in commodities. I don't know what I will do with the other 80%. I want to wait and see what the Fed will do because what they do will have a big impact."