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“Is It Possible To Get Irresponsibly Longer?”, Asks Wall Street Veteran With Over 50% Of Portfolio In Bitcoin

“I just want to be clear, with regards to being irresponsibly long bitcoin: I don’t use leverage. I fully expect to have to deal with a 50% drawdown and, I’m ok with it. I look at my allocation versus liquid assets and not my house etc. I am lucky to have an income stream, which is key.” Investment Optimism Has Been Going Up Pal is far from the only high-profile investor going balls deep in bitcoin. For instance, Wall Street giant Paul Tudor Jones purchased bitcoin back in May as a hedge against the great monetary inflation fuelled by central banks’ money-printing sprees. Additionally, MicroStrategy, a publicly-traded business intelligence firm bought $425 million worth of bitcoin as its primary treasury asset. Industry commentators have stated that mo...