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Paul Tudor on BTC: cash is a wasting asset

Paul Tudor on BTC: cash is a wasting asset
  • Paul Tudor has given his views on the leading of cryptocurrency. 
  • He said that bitcoin has a lot of potential and can seriously benefit the world as it quickly moves into more digital areas.

Taking part in The CNBC segment squawk box, the well-known hedge fund manager and Tudor investment founder, Paul Tudor has given his views on the leading of cryptocurrency. He said that bitcoin has a lot of potential and can seriously benefit the world as it quickly moves into more digital areas. 

He further went on to say that as the world moves more and more digital, any kind of asset that fits under that category is more than likely to succeed. He even added that his children no longer use cash and intern use digital means for paying for their goods and services.

Tudor went on to add that the bitcoin price is likely to increase as he is confident in the nascent assets. The amount of people that use bitcoin in today’s world is already quite big and is always rising and every time bitcoin spikes in value, more and more people want to get involved in the industry. He further said:

“When you think about every bull market, there’s one common thread: an expanding universe of people who own it. The estimates are between 55 and 70 million people own Bitcoin. If you’re buying Bitcoin, you’re betting that number [will rise.]”

Tudor made it clear that he doesn’t believe BTC can fail. As the community grows and the community's trust in the assets grows, bitcoin will more than likely keep ongoing. He says that every day that it’s going survives, the trust in it will go up.

Cash

When it comes to cash, Tudor says that typical Fiat currencies have the potential to lose their value over time. He adds that the traditional form of payment is no longer trustworthy because it depends too much on the government. This means that the federal reserve in the United States for the US dollar will need to put more money in order to keep it alive. He says that it is a wasting asset that you can hold in your hands.

It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!

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