Updated: Jan 2, 2021
Billionaire Paul Tudor Jones has been investing in Bitcoin since the US started printing money at an unprecedented rate. He was motivated to take a hard look at Bitcoin after considering the implications of massive fiscal spending and bond-buying by central banks to combat the coronavirus pandemic, he said.
Paul Jones calculates, $3.9 trillion of money, the equivalent of 6.6% of global economic output, has been printed since February.
“It has happened globally with such speed that even a market veteran like myself was left speechless,” Jones, 65, wrote. “We are witnessing the Great Monetary Inflation -- an unprecedented expansion of every form of money unlike anything the developed world has ever seen.”
This has also been the response from many of the companies that have changed some of their holdings or native currency to Bitcoin.