I don't find any value in having a interaction with you, if you haven't noticed I don't reply to your bullsh*t posts, but you messaged me on this one so... Anyway, time lost, again....
it's (bitcoin) the wrong market cap, for instance, relative to gold, - Paul Tudor Jones
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I don't find any value in having a interaction with you, if you haven't noticed I don't reply to your bullsh*t posts, but you messaged me on this one so... Anyway, time lost, again....
Going Ad Hominem rarely has the effect one desires. Are you short BTC? It would be the no-brainer trade for a BTC perma-bear.
Let us know your entry since we know your target.
I don't find any value in having a interaction with you, if you haven't noticed I don't reply to your bullsh*t posts, but you messaged me on this one so... Anyway, time lost, again....
You still can't back up your fake Fidelity claim. Others can make up their own mind.
I don't short bubbles. No way to know how far they go especially in this highly speculative environment. Easier to make money on the long side.
Always keep a sense of humor, It's good for health. Bitcoiners after watching Raoul Pal's latest interview -
2020 has been great for bitcoin (cryptos)
We're kinda stuck above 18K but below 20K for a while now, which is causing some anxieties (see bitcoin price thread). I'm trying to keep busy at work, but I'm also doing some what ifs scenarios planning for when we break to the upside. [If it's to the downside, plan is much easier which is to continue to hodl
Hope cryptos hodlers are prepared for different things that can happen especially next year, US political stuff notwithstanding and possible stock market gyrations.
I'm going to schedule a 3 hour appointment with our tax accountant and have a list of questions, something to consider for US folks.
Nice job with that one.
I find it surprising that Paul Tudor Jones would evaluate crypto in line with equities. Crypto has no such characteristics of equities that can provide insight to its valuation. No balance sheet, no cash flow, no income statement. What crypto is , at least in the case of BTC and LTC, is a commodity. Bitcoin like Litecoin is a commodity that will be used to either store value or buy goods and services. That said, the prices of BTC compared to LTC are so out of whack. It is a pure example of a bubble market in BTC. The actual equilibrium price of LTC as of now should be around 8,000 dollars since it has 4X more float than BTC. In 20 years no one is going to care if you buy their house with Bitcoin or Litecoin (its like paying someone in either 100 dollar bills or 20 dollar bills) either will be considered for payment and you dont need a wheel barrow to close the deal.The video is more bitcoin-interesting at 7:25 mark.
https://finance.yahoo.com/news/paul-tudor-jones-on-bitcoin-180803661.html
Paul Tudor Jones makes bull case for bitcoin: 'The path forward from here is north'
Julia La Roche
·Correspondent
Thu, December 3, 2020, 10:08 AM PST·4 min read
Paul Tudor Jones is embracing a “hodl mentality” on Bitcoin (BTC-USD).
The cryptocurrency, which scaled a record high this week, is on a "crazy rocket ship ride” that’s set to go higher, according to the veteran investor and trader.
While Jones doesn't consider himself a cryptocurrency expert "by any stretch," he told Yahoo Finance that he expects the digital coin will be "substantially higher" in 20 years. On Thursday, Bitcoin — which has surged 113% since May — was trading north of $19,300 with a $359.37 billion market cap.
"In a world where you've got $90 trillion worth of equity market cap and God knows how many trillions of fiat currency, etcetera...it's the wrong market cap, for instance, relative to gold, which is $8 or $9 trillion," Jones said in an exclusive interview.
"I'm going to assume that it's the wrong price for the possibilities that it has. And I'm going to assume that the path forward from here is north," he added.
He added that Bitcoin reminds him of internet stocks in 1999 when the internet was in its infancy."No one knew how to value it because of the world of possibility that lay ahead," Jones said.
Back then, few had an idea of how the Internet would play out as some companies crashed and never came back. Others, however, ended up as dominant worldwide players.
"My guess is that's what we're going to sort through— that kind of crazy competition, winners and losers, et cetera in the digital world," Jones said.
‘The fastest horse’
NEW YORK, NY - MAY 14: Founder of The Robin Hood Foundation, Paul Tudor Jones speaks on stage during The Robin Hood Foundation's 2018 benefit at Jacob Javitz Center on May 14, 2018 in New York City. (Photo by Kevin Mazur/Getty Images for Robin Hood)
In a May investor letter, the Tudor Investment Corp.'s founder and CIO provided a lengthy discussion in an investor memo on how Bitcoin can serve as an inflation hedge, as monetary expansion funds additional debt, which was already sky high before the pandemic hit.
At the time, Jones ranked Bitcoin as No. 4 on his list of inflation hedges, calling it an investable asset that falls into the category of a store of value and is semi-transactional. He noted that his profit-maximizing strategy was "to own the fastest horse" among the cryptocurrencies.
Meanwhile, Jones is certain of is the digitization of money is the future, especially as more central banks move toward their own digital currencies. He predicted that current generations and sovereign governments will eventually use their own versions of crypto.
"They may have their own digital currency, whatever. They'll be very, very, very commonplace at that point in time. Cash may be gone,” he told Yahoo Finance. “And so in that world, where does Bitcoin fit in, as well as some of the other cryptocurrencies?" he asked.
If Jones had to guess, he thinks the future of Bitcoin is "going to be a lot like the metals complex," where you have ‘precious’ digital coin.
Bitcoin is “the first crypto, first-mover in a world that's so compressed. It has that historical integrity within digital currencies that it will always have …And again, because of its finite supply, that might be the precious crypto," he added.
What's more, the future might lend to more transactional cryptocurrencies along with the sovereigns' digital currencies.
"And they may be more like the industrial metals, so where you have gold as a precious metal, and then you've got copper and platinum, palladium, et cetera that are industrial — lead, aluminum, industrial metals. You may have precious crypto, and you may have industrial crypto," he said.
While it's impossible to know what the next 10 or 20 years will look like, Jones said if he had to take a position on it, it's going to be "the brand name," which is Bitcoin.
He also expects that sovereigns will fight back against cryptocurrencies, similar to what happened with gold in the 1930s when the federal government seized it.
"We were all actually on the gold standard because of its neutrality. And then, of course, we came off. They banned it. But it had appeal,” the investor explained.
“It's hard to understand what the future of a currency, any particular currency, is going to be," Jones added.
That is a strange thing to say by Jones. Obviously you can can't do a valuation but only price BTC.
I don't know if I can get with BTC being a commodity though. I am just good with saying it is a new asset class and not trying to think in relation to something else. The way to price it to me would be like an option on some future use. Since we don't even know what that use ultimately settles out to be I can't really think of a better price than the market price.
The only way I can think of representing the price is with a uniform distribution between 0 and whatever upper bound you feel like throwing out there. 1 million, 2 billion, anything.
When someone says BTC is going to 0 I agree in a sense. When someone says BTC is going to 500k, I agree in a sense. I just don't see how anyone can say any one of these prices is more likely than another on say a 50 year time frame.
I don't know if I can get with BTC being a commodity though. I am just good with saying it is a new asset class and not trying to think in relation to something else. The way to price it to me would be like an option on some future use. Since we don't even know what that use ultimately settles out to be I can't really think of a better price than the market price.
The only way I can think of representing the price is with a uniform distribution between 0 and whatever upper bound you feel like throwing out there. 1 million, 2 billion, anything.
When someone says BTC is going to 0 I agree in a sense. When someone says BTC is going to 500k, I agree in a sense. I just don't see how anyone can say any one of these prices is more likely than another on say a 50 year time frame.
Futures option is a interesting way of thinking about it... BTC and LTC can be commmoditized if the prices acheive equilibrium since equivalent value is required to be fungible. Either way I see the CFTC getting in on this when it happens.