After several weeks of fighting and trying to keep itself above the $30k market, Bitcoin (BTC) has finally managed to top the $40k benchmark again. The data shows that Bitcoin (BTC) has not only broken through the $40k barrier but has also gone beyond that.
Even at the time of writing, the price of Bitcoin (BTC) is rising and is set to achieve more in the coming days. While Bitcoin (BTC) continues to regain its worth and market price, it has famous managers for hedge funds talking about it.
Even Paul Tudor Jones has joined the conversation and has expressed his desire for investing in Bitcoin (BTC). Paul Tudor Jones is a famous hedge fund manager who is now leaning towards Bitcoin (BTC) and has shared intentions of acquiring Bitcoin (BTC).
Jones stated that it is out of the question whether he wishes to invest in Bitcoin (BTC) or not. He certainly wants to do it and is even willing to invest 5% of his personal portfolio into acquiring Bitcoin (BTC).
Since April of 2021, Bitcoin (BTC) had been facing a downfall in terms of its price and market capitalization. The largest cryptocurrency that was flying high at $64.7k, ended up experiencing a slash to its price. As a result, its price ended up falling down to $31k per BTC.
Since then, Bitcoin (BTC) struggled to make a comeback and finally, after almost two months, it has managed to cross the $41,000 per BTC mark on June 15, 2021.
The data shows that Bitcoin (BTC) has gained a 14% increase in a day as well as a week. Still, the loss that Bitcoin (BTC) experienced in terms of its price in the last 30 days is 18%.
However, the last week started showing an upward trend in terms of Bitcoin’s price. Paul Tudor Jones stated that he is keeping a close eye on the prices of Bitcoin (BTC). He is also waiting for the Federal Reserve policy meeting to take place this week.
He stated that the policy meeting would play a key role in him investing in Bitcoin (BTC) and how much he wants to invest in them. He stated that if the meeting results in higher inflation rates, then he knows he needs to start investing in Bitcoin (BTC) and altcoins.
Jones stated that based on the outcome of the meeting, he would decide to invest in gold, cryptocurrencies, and commodities. While talking about investment options, he talked specifically about Bitcoin (BTC).
He stated that he would spend 5% of his personal portfolio in Bitcoin (BTC), as a long-term investment. He stated that while he knows about what he needs to do with 20% of his personal portfolio, he has no idea what to do with 20% of it.
He stated that out of a total of 20%, 5% would go towards BTC, 5% towards commodities, 5% in cash, and 5% towards gold.