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Wealth Manager, Billionaires At Odds Over Risks Of Investing In Bitcoin During COVID-19 Pandemic

  • Despite hitting a rough patch in March, Bitcoin prices have skyrocketed over the past two months, increasing by approximately 170%.
  • Bitcoin’s performance during that stretch has led to an uptick in interest from retail and institutional investors.
  • However, Chief Investment Officer of Creative Planning, Peter Mallouk, opined during an interview on CNBC that purchasing Bitcoin amid the COVID-19 pandemic would be a mistake.
  • Billionaires don’t agree with Mallouk’s recent comments and believe Bitcoin is a safe investment — even during these uncertain times.
  • Paul Tudor Jones, a billionaire hedge fund manager on Wall Street, revealed he will be personally and professionally investing in Bitcoin.
  • Jones compared Bitcoin to buying gold prior to the 1970s inflation and deemed it the only relevant cryptocurrency.
  • Jones went on to argue that Bitcoin is an even more valuable commodity with flat monies being printed away.
  • Barry Silbert, Chief Executive and Founder of Digital Currency Group, cited the demand for Bitcoin on Wall Street as further proof it is a safe investment. 
  • Read the full story here.

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