Big investor Paul Tudor Jones believes Bitcoin (BTC) will become less attractive in the US due to further regulation and the expectation of lower inflation going forward. said that
“Bitcoin has a real problem. All regulators are against Bitcoin in the US,” Jones said on CNBC.
Jones, who had previously praised Bitcoin’s appeal as an inflation hedge, said he believes inflation will continue to fall, laying out a less bullish scenario for crypto assets.
Since the FTX bankruptcy in November 2022, US regulators have taken a tougher stance on the cryptocurrency industry. For example, the U.S. Securities and Exchange Commission (SEC) has indicated the possibility of legal action against major U.S. cryptocurrency exchange Coinbase.
Jones’ comments showed that sentiment toward bitcoin fell slightly after he said it was possible to allocate 5% of assets to bitcoin in 2020 in response to the Fed’s devaluation of the currency. I know it’s getting cold.
Last October, however, Jones said he was “still a little invested in bitcoin,” and that cash would be his go-to as long as the Fed delivers on its promise to fight inflation.
｜Translation: coindesk JAPAN
｜Editing: Takayuki Masuda
｜Original: Bitcoin Has a ‘Real Problem’ in US: Paul Tudor Jones