'It opens up a new universe': Mike Novogratz on the significance of Paul Tudor Jones' bullish bitcoin take
Show notes
Unless you were hiding under a rock on Thursday, you would have seen the letter by macro investor Paul Tudor Jones that outlines his case for owning bitcoin as a hedge against central bank money printing. In the letter – titled The Great Monetary Inflation – Jones dropped the bombshell update that Tudor Investment Corp could allocate a percentage of its assets to bitcoin futures. Although Jones doesn't subscribe to owning bitcoin "in isolation" or view himself as a "crypto nut," the coin community propelled into euphoria at the sight of one of the most respected fund managers giving the burgeoning asset a stamp of approval. Galaxy Digital's Mike Novogratz – having once sat in a similar seat to Jones as a macro investor – joined The Scoop's Frank Chaparro and discussed the significance of Jones' letter. This latest episode also digs into: The macro investor's toolbox: Why it doesn't matter that Jones might allocate to futures rather than spot bitcoin More funds on the sidelines: Novogratz says many major fund managers he knows own bitcoin in their personal accounts but say it's too difficult to buy through their funds Update on Galaxy: How the firm revamped its playbook to take advantage of the new environment and why subscriptions for the asset management business have increased The macro picture: Why inflation could follow a period of deflation The dollar: Why Novogratz thinks the chances of China taking on dollar hegemony is at an all-time high Halving: How it’s fueling bitcoin’s bullish narrative and where bitcoin’s price is going after it happens This episode of The Scoop is brought to you by Bitstamp, the original global cryptocurrency exchange. Since 2011, Bitstamp has been a cornerstone of the industry, earning the trust of over four million individuals and top financial institutions looking for a reliable trading venue. Whether you’re trading on our web platform, mobile app or industry-leading APIs, Bitstamp gives you the professional-grade tools you need to execute your strategy. Download the Bitstamp app or visit Bitstamp.net/Pro to learn more and start trading today!
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