huge intellectual capital in crypto

  • Paul Tudor Jones told CNBC on Tuesday that crypto attracts the best talent in the world today.

  • This includes “the smartest and smartest brains” that are fresh from college coming to Web3.

  • The billionaire investor also explained why central banks and governments are not “big fans” of crypto.

Paul Tudor Jones, billionaire hedge fund manager and founder of Tudor Investment Corp., reiterated his bullish view of cryptocurrency, noting the huge amount of intellectual capital flowing into the industry.

The investor believes that the crypto and Web3 sector currently attracts most of the smart young people and ” clearest mind “, a scenario that makes it difficult to” not delay “on crypto.

Jones made the comments below interview with CNBC’s Squawk Box on Tuesday.

Crypto and Web3 capture most of the talent

According to Paul Tudor Jones, the future of crypto light looks like, and just look at the number of intellectuals moving into space. Specifically, he believes this is clear, as most of these bright-headed people are the ones who are fresh out of college.

» If you look at the smartest and smartest heads coming out of universities today, many of them are about to go into crypto. Many of them start with Internet 3.0 “, he remarked.

What this means in terms of future prospects for the evolution of space, he expressed:

» It’s hard not to want to be long crypto because of intellectual capital, just the amount of intellectual capital that goes into space . »

Central banks are ‘not big fans’ of crypto

Jones’ comments also included opinions on the blockchain and how it supports an environment that provides access to value-added without boundary transfer. According to him, blockchain has opened up huge opportunities, including the use of cryptocurrency as a means of exchange.

Clearly, central banks and governments will not be big fans of this. “, he declared.

According to him, the use of crypto means that central banks and governments are on the verge of losing control of the creation and supply of money. The negative outlook for these devices is currently the biggest stumbling block for mass crypto adoption, he said.

Despite the influence of central banks and governments, Jones believes that blockchain technology and crypto have a bright future.

A bright future for crypto, even with higher rates ahead

Jones, who first revealed he had Bitcoin in 2020, told CNBC’s Joe Kernen that his investments include a “modest allocation” to crypto.

On top of that, he has a business position. He also shared his views on the future of crypto in general, noting a bullish outlook, although markets look for higher interest rates amid tighter monetary policy by the US Federal Reserve. .

In his view, the market could easily see rates of 2.5% in September, which would increase the cost of keeping inflation hedges like crypto and gold.

It will be interesting to see if this is enough to stifle inflation. If not, they are running another leg, or if the Fed fails, we will get another leg higher in inflation “, he added.

The Fed raised interest rates by 25 basis points in March and is expected to raise them another 50 basis points. Cryptocurrencies have traded lower along with equities for most of 2022 due to concerns about rising exchange rates, inflation and geopolitical turmoil.

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