“Bitcoin has a lot of the characteristics of being an early investor in a tech company” – Paul Tudor Jones.
Like we wrote in this post, Poul Tudor Jones previously bought bitcoin on its potential to become a store of value and inflation hedge.
That’s before, PTJ then realized the huge “intellectual capital” behind Bitcoin. That there’s a global community building on Bitcoin and pushing it forward.
“Bitcoin has this enormous contingence of really, really smart and sophisticated people who believe in it,” and adds something interesting:
“The thing that bitcoin has, against investing with Steve Jobs and Apple or investing in Google early. You’ve got this group.. that’s by the way crowdsourced all over the world, that is dedicated to seeing bitcoin succeed and it becoming a common place store of value”.
Bitcoin Tech Optionality
It seems like PTJ realized, that bitcoin is not only a bet on an emergent store of value, but that is also like buying a tech option. He realized that Bitcoin is a call option on the work of a huge “crowdsourced group of really smart and sophisticated people”.
When these people build stuff on the bitcoin protocol, it grows. There’s no central command. There’s a global crowdsourced group, that wants Bitcoin to succeed.
PTJ figured out he could own a piece of this. Go figure 🚀
We wrote about the phenomena back in 2017. We still believe it’s the single most powerful concept of crypto investing. Check it out here.
Check out the CNBC interview with Paul Tudor Jones HERE.