The Bitcoin course (BTC) will always remain at the proof-of-work algorithm. The picture shows a Bitcoin on a printed circuit board.
Paul Tudor Jones is one of Bitcoin’s best-known advocates and supporters. In the past, the billionaire has made several positive statements about crypto currencies and has stressed their relevance in relation to a possible devaluation of the US dollar. In a recent interview, Tudor Jones talked with Bitcoin Machine about Bitcoin, Ethereum and the comparison with precious metals.
Paul Tudor Jones
In a recent conversation with Yahoo! finance, billionaire Paul Tudor Jones talked about his long-term forecasts for the most popular crypto currencies.
Tudor Jones made some interesting statements and attested to the growth potential of the first crypto currency, Bitcoin. For example, he stated that Bitcoin still had the “wrong market capitalisation”.
Especially in comparison with corporate and fiat currencies, he said, there is still significant growth potential.
Probably one of his most interesting statements concerned the comparison between encrypted currencies and precious metals. For example, Tudor Jones believes that crypto-currencies can play a similar role to that of various precious metals.
The comparison between bitcoin and gold due to certain properties such as rarity is widely known. Tudor Jones has compared other crypto-currencies with metals such as copper, platinum or palladium.
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Ethereum and the Platinum Comparison
Ethereum can be compared to platinum, for example. Because of its versatility, the billionaire sees a certain similarity with metal, which is used for jewellery, laboratory equipment and even in the automotive industry.
Tudor Jones said that the current crypto ecosystem is comparable to the rise of Internet companies in the 1990s.
There are crypto currencies where he sees real applications and strong growth potential. However, for the majority of crypto currencies, it is likely that they will exit the market in the medium to long term due to a lack of demand.
Note therefore that in the Yahoo! finance interview, Tudor Jones gives an overview of his personal forecasts. Tudor Jones compares encrypted currencies not only with precious metals, but also with the hype of the 1990s on the Internet.
According to him, all indications are that the market will continue to grow, although he assumes that only a few projects, very few in number, will survive in the medium to long term.