Legendary hedge fund manager Paul Tudor Jones said he still holds his bitcoin and always will. The founder of New York City’s Tudor Investment and Robinhood Fund told CNBC’s “Squawk Box” on Monday that he’s “never been sitting on a horse for so long.” Jones started buying cryptocurrencies in 2020 as a hedge against inflation. At the time, he compared it to gold trading in the 1970s. “From the very beginning, I’ve always said that I wanted a small allocation for it because that’s the only thing humans can’t control. supply adjustment,” he said. “So I’m going to stick with it and I’ll always stick with it as a small diversification in my portfolio.” Bitcoin has a fixed supply limit of 21 million coins, as designed and mandated by the Bitcoin code. It is one of the main attractions for investors, who hope that as more people buy it, it will become scarcer and its value will increase even more. Bitcoin hit an all-time high of over $68,000 in 2021 and dropped to $15,000 the following year. It is currently trading at around $27,000, according to Coin Metrics. Jones said of bitcoin and gold: “They’ve been doing really well lately because of the fact that we’ve got these big risk premiums. “I wonder if they might not be boring in the future.” “If inflation really does take a bit, if that story has been played out, then you have to ask yourself: we bought gold and bitcoin to hedge against inflation – that game could be over,” he said. said more. Jones has also previously said on CNBC that buying bitcoin is like investing in an early tech company.