Hedge fund manager Paul Tudor Jones said that bitcoin (BTC) has become less attractive thanks to what’s become an unfriendly regulatory picture in the U.S. and what he expects will be lower inflation going forward.
“Bitcoin has a real problem because in the United States, you have the entire regulatory apparatus against it,” Jones said on CNBC’s Squawk Box.
Jones – who previously lauded bitcoin’s appeal as an inflationary hedge – added that he believes inflation will continue to come down, adding to the less-bullish scenario for the crypto.
Last October, however, Jones described his allocation to bitcoin as “minor,” saying that cash is the place to be as long as the Fed can be trusted to get a handle on inflation.
