Paul Tudor Jones, billionaire hedge fund manager and founder of Tudor Investment Corporation, said on Thursday that he believes Bitcoin is “in the first inning” of its climb, adding the growth “has a long way to go.”

“The reason I recommended Bitcoin is because it was one of the menu of inflation trades, like gold, like TIPS breakevens, like copper, like being long yield curve and I came to the conclusion that Bitcoin was going to be the best inflation trade,” he stated in an interview with CNBC.

Bitcoin rose 0.90% to trade for $12,924.707 9:16 am ET. It jumped more than 22% over the last one-month period, while surging over 79% since the beginning of the year.

Breaking the News / GA