Paul Tudor Jones said Monday that bitcoin is a great way to protect his wealth over the long run and is part of his portfolio just like gold.
"I like bitcoin as a portfolio diversifier. Everybody asks me what should I do with my bitcoin? The only thing I know for certain, I want 5% in gold, 5% in bitcoin, 5% in cash, 5% in commodities. At this point in time, I don't know what I want to do with the other 80% until I see what the Fed is going to do," Jones said on CNBC's "Squawk Box."
"For me, it's just a way of kind of foundationally looking at how do I protect my wealth. Over time it's a great diversifier. Again, I look at bitcoin as a story of wealth," Jones added. "I look at crypto as a story of wealth. Others will argue this is a different ecosystem. It's transactional in nature."