By Mark DeCambre
'What you can be certain of is that probably 20 years from now, our kids and grandkids, whatever, all of us, we'll be using some type of digital currency' Jones says
That is billionaire investor Paul Tudor Jones in a Thursday interview on Yahoo Finance () expressing his optimism about bitcoin and its ilk.
The prominent hedge-fund luminary has been among the traditional investors who is considered in the decidedly bullish cryptocurrency camp.
Jones said he projects that the "path forward from here" for bitcoins, the No. 1 cryptocurrency in the world, is eventually "north."
Back in the late spring () Jones said, writing in a research note, that unprecedented money-printing and stimulus measures by the Federal Reserve and the U.S. government amid the COVID-19 pandemic were the key reasons behind his newfound appetite for the world's most prominent cryptocurrency.
At last check, bitcoin prices were changing hands at $19,410, up 0.9% on the day.
His comments come as bitcoin prices have surged more than 170% so far in 2020 amid a groundswell of institutional interest in the virtual currency that has only been around since 2009.
By comparison, the Dow Jones Industrial Average is up 5.4% so far this year, the S&P 500 index has gained nearly 14% during the same period and the Nasdaq Composite Index has advanced over 38% in the year to date. Gold(ABX.T), meanwhile, has climbed 21% thus far this year
-Mark DeCambre; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
December 05, 2020 10:11 ET (15:11 GMT)
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