History has just been made for Bitcoin, ladies and gentlemen. Welcome back, everyone, to AWALT Coin Daily. My name is Aaron. If you hold Bitcoin again, you ought to be feeling really good. Legendary investor Paul Tudor Jones has become the first mainstream hedge fund manager to announce to the world that his hedge fund is buying Bitcoin. It puts Bitcoin as asset health. This puts Bitcoin as a brand on this whole another level. 2020 is the year of Bitcoin. In my opinion. Now, if you’ve been subscribed to our channel for a while, you already know, you know exactly why he is buying Bitcoin. If you’ve been subscribed to us for any amount of time. That being said, there is a lot of new people who have entered the space recently. And I do want to know specifically what he said. He sees Bitcoin as a hard asset, a hedge against the endless money printing. He called it a store value. Called it trustworthy, liquid, portable, if you want to know his exact statements on the matter. Feel free to pause the video right here. That’s a large part of what he said on Bitcoin. But he also went on to say that he sees buying Bitcoin now like buying gold in the 1970s. And just to refresh your memory, 1971 is the year that Richard Nixon took America fully off the gold standard. And that prompted a lot of hedge fund managers, a lot of people in general, to seek out hard assets, store their wealth. This is something people are looking again today for. Actually, if we take a closer look at gold‘s price action starting in the mid-1970s. If we go from the bottom to the top, this may vary depending on where you get your data. Gold rallied about seven hundred and seventy percent and it actually went much higher in future cycles. But Paul Tudor Jones sees owning Bitcoin today like owning gold right here. In the 1970s and his hedge fund is buying it. I tweeted this out. To go along with this story, at some point, it will become fiscally irresponsible if hedge funds don’t have Bitcoin in their portfolios. Do you agree with this? Do you disagree with this? The reason I think this is true is that hedge funds have this fiduciary duty to make good investments. If Bitcoin continues to be the best investment, even if it just continues to be a good investment, they’re going to need to get off zero. By the way, guys, if Bitcoin does perform like gold, you know, the same percentage gains, we would be seeing a Bitcoin price of over seventy thousand dollars. And if you like that, you’re gonna like this. It’s another famous trader and investor role. Paul, we’ve talked about him before. We brought the story to you. The fact that this man just put 25 percent of his portfolio into Bitcoin this year for similar reasons as Paul Tudor Jones. And he tweeted out some rather bullish charts and opinions on Bitcoin. He called it Bitcoin porn. The perfect setup for Bitcoin is here. Chart one, the perfect wedge. If you use classic charting techniques, it gives you a future price target for bitcoin around forty thousand dollars. But chart number two, the perfect wedge on a log chart. Well, that gives you a price for this run potentially one million dollars. Chart number three, the perfect regression channel that gives you one standard deviation move to a Bitcoin price of four hundred thousand dollars or a two standard deviation, move to a potential price of one million dollars. Again, a one million dollar Bitcoin, whatever plays out after a key technical break like today, the probability of vastly higher prices for Bitcoin has risen dramatically. And this is confirmed by the stock to flow models by Plan B, and the breakout has happened almost exactly at the happening. Add to that the entire world central banks are either seeing their currencies collapse to the almighty dollar or they’re printing money like crazy. Huge quantitative easing. Fiat meets the hardest money that automatically quantitative tightens, bitcoin wins. This is one of the best setups in any asset class I’ve ever witnessed. Technical, the fundamental flow of funds and plumbing all now and again. To be clear, even if the odds are 90 percent, doesn’t mean it’s definitely going to work out. I can and I will be wrong often and dramatically. Good luck. Expect horrific volatility both up and down, but you can’t make a five x 10x hundred X returns. Without large drawdowns, so be careful how much you put in. It also feels like you have too little. Until it doesn’t. And then you wish you didn’t have so much. This is exactly what I thought would happen. First of all, we’re seeing two famous investors and traders this year in 2020 come out extremely bullish on Bitcoin. They’re putting their money where their mouth is. But besides that, I’ve always said that I think people are going to be secretly buying Bitcoin when they perceive it as low. And then when we see a Bitcoin rally up and all of a sudden it feels very good to tell the world that you invested in Bitcoin. And I think we’re going to continue to see people like this come out and say, I own Bitcoin and here’s why. And make no mistake about this. Paul Tudor Jones, his hedge fund buying Bitcoin is a huge milestone for Bitcoin as an asset. This is global news. Even our friends at CNBC are singing its praises. Welcome back to Fast Money, one of Wall Street’s most successful hedge fund managers sending a giant shockwave across the cryptocurrency market today. Paul Tudor Jones reportedly buying Bitcoin as a hedge against inflation. Jones comparing the cryptocurrency to the gold trade back in the 1970s. Calling it the fastest horse in this environment. Let’s break this bombshell down with our own Bitcoin baller, Brian Kelly. B.K. Crypto Crypto Twitter was just on fire today with this. More so than ever. I quit crypto traders putting in place. But yeah, I mean, certainly having somebody called Trader Joe’s pedigree and calibre come in and kind of put their stamp of approval on this asset class. Got everybody really excited. Brian, a big fan of your work. A lot of people think the gold bitcoin is binary. You have to own one or the other. They both can’t work. Do you think in this environment both can do well? Sure, it’s the same thesis. It’s the idea that you have you need a capped security or a capped supply. And so whether it’s gold or whether it’s Bitcoin, I happen to think Bitcoin has a much higher upside, a better risk to reward. But the thesis is very similar. The only other thing I would say about Bitcoin is that it’s different than gold. It’s a lot more. More, right. We’ve seen the issues we’ve had over the last weeks where gold prices disengaged from futures spot gold because they couldn’t get gold bars from London to New York to settle. You don’t have that issue with Bitcoin. This is the Internet money. You just send it right over and settle it. So in that sense, I think Bitcoin has a bigger role to play in this environment. The gold does. All right. Okay. Great to see you. Brian Callear owns Bitcoin Boller. Karen, I’m curious when somebody like a Paul Tudor Jones says that he’s buying cryptocurrency. Do you think that sort of paves the way for other hedge fund managers in the mainstream to do the same? Yeah, I think so. I mean, it does. Its sort of nobody wants to get sort of outed having owned Bitcoin if it completely falls apart, but they can say, you know, Paul Tudor Jones owned it also. Maybe that gives you a little bit of cover. I believe I mean, I think that Mike Novogratz had said it a few weeks ago. I really believe if this isn’t the environment for Bitcoin to work with this kind of just money printing all around the world, then I don’t know what is. So we’ll see if inflation ever ticks up. I’m optimistic that Bitcoin will go up as well. Guys, this is an incredibly exciting time to be a Bitcoin holder. And just in the cryptocurrency space in general, we if you’ve been following us for a while, we are leagues ahead of the general public on everything related to cryptocurrency, things that we’re seeing, you know, famous hedge fund managers coming out and saying this year they’re spouting out, you know, things that we’ve been going over on this channel forever, ever. Everything that, you know, we went over today, everything that these famous people have said about Bitcoin if you already knew this. And I think it’s just an incredibly exciting time to be in the cryptocurrency space. By the way, guys, I’m pretty sure I’m going to be doing a live stream on the same day this video comes out in the evening with our Australian friend, Alex Saunders. So look forward to a Livestream, hopefully coming up in a couple of hours whenever you watch this video. Alex is coming on because Alex, I want Alex to wait. If we were going to talk cryptocurrency, but specifically I’m like, Alex, what other coins? Like, I want to be on Team DFI. You know what? Other coins have real fundamental value and hopefully, we’re gonna get into some of that stuff. So look forward to the Livestream later. That’s it, guys. Seema.