Bitcoin is halving this coming Tuesday May 12.If you switch off at the merest mention of Bitcoin or crypto, then change, at least for now, and keep reading.
Bitcoin halving is a significant event alone, but what could prove to be an even more significant event happened yesterday, when the CEO of one of the worlds’ biggest hedge funds told the press that it was time for his fund to get into Bitcoin.
There is a link to the Bloomberg article covering this at the bottom of this post. The man that made the statement is Paul Tudor Jones of Tudor Investments.
Here is a direct quote from the Bloomberg piece:
“The best profit-maximizing strategy is to own the fastest horse,”
Jones, the founder and chief executive officer of Tudor Investment Corp., said in a market outlook note he entitled ‘The Great Monetary Inflation.’
“If I am forced to forecast, my bet is it will be Bitcoin.”
This move from a hedge fund manager with clout moving away from the “establishment” stance on crypto must have a ripple effect on Bitcoin buying and will push the price up.
There is no guarantee that this will happen but to my knowledge there has never been two absolute positives (for Bitcoin) that converge like this before.
The time to act upon this potential asset grab, if you agree that halving coupled with hedge fund involvement is likely to push up the price, is RIGHT NOW.
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Disclaimer I am not an investment advisor. This could all turn out a damp squib. It may be possible that, even though Bitcoin halving alone has created dramatic increases in the Bitcoin price previously, it may not this time. And whilst those previous increases have come about even without hedge fund managers telling us they are getting some money in themselves, it is possible that the expectation of big increases now prove to be misguided. Only speculate/invest, what you can afford to lose, is the Golden Rule.