Hedge fund manager Paul Tudor Jones, who has always advocated investing in bitcoin, said that the first cryptocurrency has become less attractive in the current regulatory and economic situation.
During CNBC’s Squawk Box program, Paul Tudor Jones noted that U.S. regulators are now increasing pressure on the cryptocurrency industry.
In addition, he expects a decline in inflation in the U.S., which makes assets to hedge inflation less attractive. And bitcoin is often perceived as such an asset.
“Bitcoin is in real trouble because the entire regulatory apparatus in the U.S. is against cryptocurrencies,” Jones noted.
The hedge fund manager himself, however, stressed that he continues to own a small amount of bitcoins and has no plans to sell the cryptocurrency even in the distant future.
Earlier he was going to invest up to 5% of his fortune in bitcoin, but it seems that the investor abandoned such plans.
Paul Tudor Jones said last October that he believed bitcoin and ether would see significant and sustained growth.