Paul Tudor Jones, a billionaire investor known for outperforming the markets in the 1970s and in the Great Recession, kicked it off prior to the halving this year. He revealed in a research note that he thinks Bitcoin will be the “fastest horse in the race” in a world where inflation is rampant.
This was corroborated by a number of other prominent Wall Street veterans, including those within and outside of the crypto space. This list includes Stanley Druckenmiller, Rick Rieder, Mike Novogratz, and Raoul Pal.
Though, thus far, altcoins have yet to gain traction amongst institutional players, aside from a role as a technology to use.
Top executives in the space expect this to change in the months ahead.
Ethereum to gain Wall Street traction, says Grayscale MD
— Joseph Young (@iamjosephyoung) December 5, 2020
Ethereum hosts a vast majority of the top DeFi applications by total locked value and by the value of their native cryptocurrencies.
Many expect this to continue as there remain positive trends in the DeFi space and due to simple network effects.
Paul Tudor Jones talks ETH
He’s going through the rabbit hole.
— DT (@dgntec) December 3, 2020
He said that there may be a world in which there is a precious cryptocurrency such as Bitcoin and an industrial one, referencing something like Ethereum. Tudor Jones did not expand on his thoughts beyond that, though many see this as validation that prominent Wall Street investors will soon look into Ethereum as both a technology and as an investment.
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