‘Bitcoin (BTC) Is In the First Inning and Has a Long Way to Go’ Says Billionaire Paul Tudor Jones

As the world’s largest digital currency Bitcoin (BTC) has registered its new yearly high by surpassing above $13,000 on October 22, 2020, investors are claiming that it is just the beginning and that the top-ranked cryptocurrency will continue its bullish rally further. The famous billionaire and hedge fund manager Paul Tudor Jones who has a net worth of approximately $5.1 billion has said in an interview that the rally of Bitcoin is still in the first inning and it still “has got a long way to go”.

Following the price surge of the leading cryptocurrency, Paul Tudor Jones appeared in an interview with CNBC’s “Squawk Box” on the 22nd of October and talked about the explosive rally of Bitcoin that it has witnessed over the course of the last two days. He said that Bitcoin’s rally is still residing in its first inning and that it will go further. He also asserted that his liking for the top cryptocurrency has increased more than ever. Jones’ comments revealed that he is highly confident in Bitcoin.

The Chief Investment Officer (CIO) at Tudor Investment Corporation first disclosed his investment in Bitcoin in the month of May and now he has uttered such kinds of comments in the praise of the major digital currency.

Furthermore, while comparing investing in Bitcoin with pouring investments into Apple or Google, he said, “Bitcoin has this enormous contingence of really, really smart and sophisticated people who believe in it. It’s like investing with Steve Jobs and Apple or investing in Google early.”

Earlier today on October 22, the first-ranked digital currency by market capitalization Bitcoin was able to reach its highest price level of the year 2020 by surpassing above $13,000. This potential rally of Bitcoin has occurred as a result of the recent announcement made by the payment firm PayPal in which it said to support trading for Bitcoin as well as for some other top digital assets.

However, after recording its yearly high value, the coin has slightly moved downward. At the time of writing, the price value of BTC is standing at $12,943.28 USD and is up 1.82 percent in 24 hours.

Author: MubaShar Nawaz
MubaShar Nawaz is an experienced writer working for TheForexPro.info. Having passion for writing, he covers news articles from the finance and trading world.

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