Paul Tudor Jones: Huge intellectual capital in crypto

  • Paul Tudor Jones told CNBC on Tuesday that crypto is attracting the best talent in the world today.

  • This includes “the smartest and brightest minds” fresh out of college coming to Web3.

  • The billionaire investor also explained why central banks and governments aren’t “big fans” of crypto.

Paul Tudor Jones, billionaire hedge fund manager and founder of Tudor Investment Corp., reiterated his bullish view on cryptocurrency, noting the massive amount of intellectual capital flowing into the industry.

The investor believes that the crypto and Web3 sector currently attracts most of the smart young people and “ brightest minds “, a scenario that makes it difficult to “not delay” on crypto.

Jones made the comments during a interview with CNBC’s Squawk Box on Tuesday.

Crypto and Web3 nab the most talent

According to Paul Tudor Jones, the future of crypto is looking bright and just look at the number of intellectuals moving into the space. Specifically, he thinks this is clear given that most of these bright minds are those fresh out of college.

» If you look at the smartest and brightest minds coming out of universities today, many of them are getting into crypto. Many of them are embarking on Internet 3.0 “, he noted.

On what this means in terms of future prospects for developments in space, he expressed:

» It’s hard not to want to be long crypto because of intellectual capital, just the amount of intellectual capital that enters the space . »

Central banks are ‘not big fans’ of crypto

Jones’ comments also included opinions on the blockchain and how it supports an environment that provides access to the transfer of value without borders. According to him, blockchain has opened up huge possibilities, including the use of cryptocurrency as a medium of exchange.

Obviously central banks and governments aren’t going to be big fans of this. “, did he declare.

According to him, the use of crypto means that central banks and governments are on the verge of losing control over the creation and supply of money. The negative outlook for these entities is currently the biggest stumbling block to mass crypto adoption, he said.

Despite the impact from central banks and governments, Jones believes blockchain technology and crypto have a bright future.

A bright future for crypto, even with higher rates ahead

Jones, who first revealed he held Bitcoin in 2020, told CNBC’s Joe Kernen that his investments include a “modest allocation” to crypto.

On top of that, he holds a business position. He also shared his views on the future of crypto in general, noting a bullish outlook even as markets look to higher interest rates amid tighter monetary policy from the US Federal Reserve. .

In his view, the market could easily see rates of 2.5% by September, which would drive up the cost of holding inflation hedges like crypto and gold.

It will be interesting to see if this is enough to stifle inflation. If not, they’re gonna ride another leg, or if the Fed fails, we’re gonna get another leg higher in inflation “, he added.

The Fed raised interest rates by 25 basis points in March and is expected to raise them another 50 basis points. Cryptocurrencies have been trading lower alongside stocks for much of 2022 amid concerns over rising rates, inflation and geopolitical unrest.

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Paul Tudor Jones: Huge intellectual capital in crypto

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