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Paul Tudor Jones told CNBC on Tuesday that crypto today is attracting the best talent in the world.
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This includes the “smartest and brightest minds” out of college who are coming to Web3.
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The billionaire investor also talked about why central banks and governments are not “huge fans” of crypto.
Paul Tudor Jones, a billionaire hedge fund manager and founder of Tudor Investment Corp, has reiterated his bullish stance on cryptocurrency, pointing to the enormous amount of intellectual capital flowing into the industry.
The investor believes that the crypto and web3 sectors are currently attracting most of the young smart and “brilliant mind“, a scenario that makes it difficult to “not stay long” on crypto.
Jones remarked during remarks interview Tuesday with CNBC’s Squawk Box.
Crypto and Web3 Discover the Most Talent
According to Paul Tudor Jones, the future of crypto looks bright and one only has to look at the number of intellectuals going into space. In particular, he believes it is clear that most of these bright minds are fresh out of college.
,If you look at the smartest and brightest minds coming out of colleges today, many of them are moving to crypto. Many of them are Internet 3.0 . going in,” He mentioned.
What this means in terms of future visions of development in space, he said:
,It’s hard not to be long crypto because of the intellectual capital, massive amount of intellectual capital that goes into the space.,
Central Banks Are “Not a Huge Fan” of Crypto
Jones’ comments also included thoughts on blockchain and how it supports an environment that provides access to borderless value transfers. According to him, blockchain opens up huge possibilities, including the use of cryptocurrencies as a medium of exchange.
,Obviously, central banks and governments aren’t going to be huge fans of this.,” They said.
According to him, using crypto means that central banks and governments are set to lose control over the creation and supply of money. He added that the negative outlook of these entities is currently the main obstacle to mass adoption of crypto.
Despite the influence of central banks and governments, Jones believes that the future of blockchain technology and crypto is bright.
Bright future for crypto even with high rates
Jones, who first revealed that he owns bitcoin in 2020, told CNBC’s Joe Cernan that his investments involved a “modest allocation” to crypto.
On top of that, he holds a trading position. He shared his views on the future of crypto in general, taking a bullish outlook even as markets move towards higher interest rates amid tight monetary policy from the US Federal Reserve.
In his opinion, by September the market could easily see rates at 2.5%, resulting in an uptick in the cost of owning inflation hedges such as crypto and gold.
,It will be interesting to see whether this is enough to contain inflation. If not, they’re going to raise another foot, or if the Fed goes lower, we’re going to raise another foot in inflation.,” He added.
The Fed raised interest rates by 25 basis points in March and is set to raise another 50 basis points. Amid panic over high rates, inflation and geopolitical turmoil, cryptocurrencies have traded very little in 2022 along with stocks.