Amid the ongoing coronavirus pandemic, inflation is collapsing all over the world. In order to hedge against the aggrandizement risks, some billionaire investors are buying Bitcoin (BTC).

Paul Tudor Jones, the billionaire founder of hedge fund, Tudor Investment Corporation, reportedly revealed that Bitcoin is function of his portfolio.

"If I am forced to forecast, my bet is information technology will be Bitcoin."

According to a May vii report past Bloomberg, Jones is ownership Bitcoin to protect his investments from the inflation coming from the coin-printing by central banks. In a marketplace outlook note titled "The Great Monetary Inflation," the billionaire investor reportedly said that that Bitcoin reminds him of the role that gold played in the economic problems in the 1970s.

In the note, the 65-year-old investor highlighted Bitcoin equally the best choice in a turn a profit-maximizing strategy. Jones said:

"The best profit-maximizing strategy is to own the fastest equus caballus [...] If I am forced to forecast, my bet is it volition be Bitcoin."

According to the report, Tudor BVI, a hedge fund operated by Tudor Investment Corporation, is holding every bit much as a "depression unmarried-digit percentage" of its assets in Bitcoin futures.

Ongoing crisis is Bitcoin'southward biggest test

Jones is non the first to outline Bitcoin's potential amongst the coronavirus-fueled crisis and aggrandizement. In March 2022, major cryptocurrency exchange BitMEX said that the coronavirus crash-fueled inflation would get Bitcoin'due south biggest opportunity since its creation in 2009.

Subsequently, billionaire investor and major Bitcoin balderdash, Tim Draper, besides outlined the crucial role of Bitcoin amidst the ongoing global fiscal crisis. On March xvi, Draper said that information technology will be Bitcoin, not banks and governments that relieve the day.

Meanwhile, Bitcoin's toll keeps surging in anticipation of a major milestone in its history. On may 12, the biggest cryptocurrency will face its 3rd block reward halving, which means that the amount of Bitcoin mined every 10 minutes volition drop from 12.5 to six.25. Trading at $9,816 as of press time, Bitcoin has been gaining momentum recently, surging more than 11% over the by seven days. On Jan. 1, 2022 Bitcoin traded at around $7,200.