• Mon. Sep 25th, 2023

Michael Saylor says Paul Tudor Jones Underestimated Bitcoin

Sep 25, 2020
Michael Saylor says Paul Tudor Jones Underestimated Bitcoin

Paul Tudor Jones who is a world-renowned billionaire, one of the most influential men in the world, and a flagrant hedge fund manager, has invested approximately half a billion dollars of his wealth in Bitcoin. The news of investment by one of the pioneers in the financial industry did not go quietly as Mr. Michael Saylor who is the current Chief Executive Officer of Microstrategy, commented that if the billionaire had underestimated Bitcoin by losing his faith in Bitcoin or otherwise he would not have invested only half a billion-dollar, which according to Saylor, is such a meager amount of investment. 

However, Saylor did not try to offend the billionaire but stated that the advisors of the billionaire were not well-off otherwise Paul Tudor Jones has invested heavily in Bitcoin. Paul Jones is one of those individuals who were skeptic about cryptocurrencies but due to the prevailing Covid-19 crisis which resultantly also severely damaged the cryptocurrencies, like many businessmen all over the world, Jones may have lost his faith in it.

During an interview with Stephan Livera, which got published on Monday this week, Michael Saylor apprised that how did his multi-billion dollar company ended up being a company which has embraced bitcoin as the reserve asset for his company’s treasury. The company which is duly registered with the NASDAQ has very recently bought approximately 38,250 bitcoins which is equivalent to US$ 425 million.

On the other hand, while talking to the media, Jones said that he has invested about 1 to 2 of his entire wealth in the Bitcoin and he thinks that in the given circumstances, when COVID is still there, and that the great inflation has taken place, he is quite comfortable with the figures. 

However, while refuting to the statement of Jones, Saylor also said that Jones failed to understand the bitcoin and gave an example that if a billionaire like Jones is interested in buying Vegas that he has to be Howard Hughes who bought the entire Vegas.

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