BREAKDOWN: Revisiting Paul Tudor Jones’ ‘Great Monetary Inflation’ Thesis
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 31 May 2021
⏱️ 27 minutes
🧾️ Download transcript
Summary
A replay of NLW’s original episode on the topic from May 2020.
This episode is sponsored by Nexo.io.
A year ago this month, legendary hedge fund manager Paul Tudor Jones released a paper about the “Great Monetary Inflation.” It set the entire narrative backdrop for the institutional move into bitcoin, and also revealed PTJ as a bitcoiner. This is a replay of NLW’s original episode breaking down why the paper mattered.
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Transcript
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| 0:00.0 | Paul, do you see this, though, in relation, and I'm thinking about tech stocks now, because one of the things we have seen over the past two months is just the move towards virtual. |
| 0:08.6 | Anything that can be done virtually has had great success, whether it be Zoom or any of the big tech companies in the Valley, because we're all able to do that virtually. |
| 0:17.1 | Is that the way you see Bitcoin and separately do you own gold? I was going to ask |
| 0:21.3 | at the same time. I have assets and gold also. I think gold can go substantially higher. |
| 0:30.1 | And yes, the digitization of the world clearly benefits Bitcoin. I mean, we wouldn't even be talking about Bitcoin if we |
| 0:39.7 | weren't seeing First cousins like Venmo and a variety of other ways. My children don't even |
| 0:47.4 | carry cash. They barely even know what cash is. So we're clearly digitizing the global economies. You've seen some countries do it |
| 0:57.4 | explicitly like India. You're seeing other countries on the way to do it like China. So we're getting |
| 1:04.2 | in an increasingly digitized world. And Bitcoin will be that much more accessible by that universe |
| 1:09.8 | of people that could own it as a store of value. |
| 1:13.8 | When you think about every bull market, every single bull market, has one common threat, |
| 1:19.5 | an ever-expanding universe of people who own it. |
| 1:23.7 | So there's probably the estimates are between 55 and 70 million people own Bitcoin. |
| 1:29.0 | We really, if you're buying Bitcoin, your bet is that number is going to go to 120 million or to 200 million. |
| 1:36.8 | And it's kind of hard when you look around and you see that the world's becoming increasingly digitized, |
| 1:42.7 | not to think that the preponderance |
| 1:44.3 | evidence at this point in time doesn't point in that direction. |
| 1:50.7 | Welcome back to The Breakdown with me, NLW. It's a daily podcast on macro, Bitcoin, and |
| 1:57.7 | the big picture power shifts remaking our world. |
| 2:06.4 | The breakdown is sponsored by nexo.io and produced and distributed by CoinDes. |
| 2:15.9 | What's going on, guys? It is Monday, May 31st. Happy Memorial Day. Regular listeners of the show will have often heard me make mention of a specific seminal paper |
| 2:19.5 | from last May. It was by Paul Tudor Jones and his team, called The Great Monetary Inflation. |
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