Love seeing smart people new to Bitcoin presenting their investment thesis in elegantly simple terms — it's easy to get lost in the weeds.
Here are some great lines from Paul Tudor Jones' memo:
Here are some great lines from Paul Tudor Jones' memo:
On Bitcoin's scarcity premium:
"It is literally the only large tradeable asset in the world that has a known fixed maximum supply." - PTJ
"It is literally the only large tradeable asset in the world that has a known fixed maximum supply." - PTJ
On Bitcoin's liquidity:
"Interestingly, Bitcoin is the only store of value that actually trades 24/7 in the entire world." - PTJ
"Interestingly, Bitcoin is the only store of value that actually trades 24/7 in the entire world." - PTJ
On COVID-19 accelerating Bitcoin and crypto:
"The most compelling argument for owning Bitcoin is the coming digitization of currency everywhere, accelerated by COVID-19" - PTJ
On Bitcoin's portability: ...
"The most compelling argument for owning Bitcoin is the coming digitization of currency everywhere, accelerated by COVID-19" - PTJ
On Bitcoin's portability: ...
"A great store of value can be seamlessly moved from one jurisdiction to another with little or no transaction costs. Cash is obviously good for that; gold is ok but clunky; but, of course, nothing beats Bitcoin, which can be stored on a smartphone among other options." - PTJ
On Bitcoin as a macro hedge:
"Owning Bitcoin is a great way to defend oneself against the [Great Monetary Inflation], given the current fact set." - PTJ
"Owning Bitcoin is a great way to defend oneself against the [Great Monetary Inflation], given the current fact set." - PTJ
