BREAKDOWN: 'Bat-S**t Crazy’ Paul Tudor Jones on the Fed, Inflation and Why He Recommends 5% in Bitcoin
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 14 June 2021
⏱️ 12 minutes
🧾️ Download transcript
Summary
The originator of the “Great Monetary Inflation” thesis that helped jumpstart this bull run weighs in on bitcoin and macro.
This episode is sponsored by Nexo.io and Bitstamp.
Just when it seemed like the “Economic Empowerment” narrative coming out of El Salvador was poised to overtake the inflation/digital gold narrative, one of that viewpoint’s strongest advocates was back on CNBC today. Hedge fund legend Paul Tudor Jones discussed why he doesn’t think inflation is transitory, why he recommends 5% in bitcoin and why the outcomes in the market will be based largely on what the Fed does next.
Also on this episode:
- Elon Musk says Tesla will accept BTC as payment again once renewable mining hits 50%
- Michael Saylor and MicroStrategy sell $500 million in bonds to buy more BTC
- More shockwaves from El Salvador’s landmark bitcoin law
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Transcript
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| 0:00.0 | This is a strong reminder that the thing that got those institutions interested in the first place, |
| 0:04.6 | the extreme variability and just the extremes of monetary policy, |
| 0:09.0 | is every bit as true today as it was a year ago. |
| 0:12.3 | You have to think that the nydigs of the world are working double-time |
| 0:15.4 | to reinforce this perspective with the institutions who are hovering on the edge of a bed. |
| 0:21.2 | Welcome back to The Breakdown with me, NLW. |
| 0:25.3 | It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world. |
| 0:31.4 | The breakdown is sponsored by nexus.io and BitStamp and produced and distributed by CoinDess. |
| 0:38.8 | What's going on, guys? It is Monday, June 14th, and today I'm going to cover a few topics, |
| 0:44.7 | but if I had to sum up the vibe here at the beginning of the week, it's the Bulls trying to |
| 0:50.4 | mount a comeback. As you've seen over the past few weeks, the mood had turned pretty significantly |
| 0:56.0 | bearish. |
| 0:57.0 | People were starting to ask whether we were settling in for a new crypto winter. |
| 1:01.0 | At the beginning of the week last week, I talked about the inflation and digital gold narrative |
| 1:06.0 | that had set the overarching framework for the previous year. |
| 1:09.0 | This was the force that drove new market participants |
| 1:12.4 | in, fueling the bull market that pushed Bitcoin from 10K all the way to 60K plus. Then again, Bitcoin |
| 1:19.3 | hasn't been at 60K since early April. Since then, the bull market has felt the wind that leave |
| 1:24.6 | its sales. I speculated last week that the digital gold, institutional |
| 1:28.9 | momentum had largely stopped, thanks to a combination of two things. First, a macro environment |
| 1:34.9 | which was largely waiting to see what happens next with rising inflation and expectations |
| 1:39.5 | that the Fed would feel pressure to unwind monetary support and low interest rates, and two, a nearly |
... |
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