so i want to just oppose him to another hedge fund manager, which is paul tudor jones. and paul tudor jones recently said that he has gold and bitcoin, but that gold is a bet on dystopian future whereby it like things fall apart and man humans are not good. they can't, they can't keep it together. it's apocalyptic. and they don't work together. he say he then went on to say that because it is a bet on humanity as a bet on the goodness of humanity. and here is ray dally. you say basically he's betting that the dollars. toast and the u.s. is toast. the population is toast, the manufacturing capacity is toast. their g.d.p. is toast because he's going along china and he says re deleo believes global markets are at a very special amends with china. on the rise and the relative power of the u.s. facing challenges. the billionaire founder of bridgewater, so she said in his video message to the caption summit on saturday that china's development is making the country more competitive and a learning global capital. right. and out of this juxtaposition of paul tudor jones versus r

oh, before paul tudor jones, before stan talked in miller. so again, this is something that we've pointed out many times that because it is unique in that so many because report goes so over $100.00 countries and as dubbed into spanish, we have people all over the world who was were able to get into big point and start stacking stats back when it was a dollar 3 dollars, 10 dollars, 100 dollars, 1000 dollars. and now, you know, these hedge fund guys are buying 880-0000 joey's of dahlan. josh brown. we've sold them under $100.00. you know, we're saying look, i get into this and wiesenthal was very dismissive of it. just brown didn't want to be bothered with it under $100.00. and john to jerry and he told ron $100.00 or $200.00 a big point. he eventually did get it a few years ago, so he's got the mental agility. you know, it's a litmus test. if you have intelligence and mental agility you overcome your resistance a bit. going to become a big corner. if you don't, if you're stuck in your mire and you're just not that bright like a peter schiff,

paul tudor jones had to behave to enter big claim. you can't just come in cheap the market and that takes me to another story that kaiser before it got right, max kaiser, alone amongst all commentators on this. and that is the hash war that you saw coming. so there is this, you know, neukom toller of the currency. ryan brooks watch this, the very 1st internet of money, which was the watch in about 10 years ago is now essentially owned by china. so as a country we now face a geo strategic competitiveness issue, which is do we in the united states want to own internet 2.0 in the same way that we own internet one point, oh, i start talking about this 2 years ago. i've been talking on kaiser report many, many times because game theory will jump to the sovereign level and you have global hash wars. countries will need to strategically geo politically get into because, and this is what's happening in the united states right now. it's that sputnik moment, you know, it's internet $2.00, but it's also sputnik to point out. remember, soviet uni

and you can understand why paul tudor jones stand druckenmiller. bill miller over over there. it is major fun group. he has his own fund, but he used to be at legg mason was a massive, massive invest at asset management company as well. so, you know, miller was early in pick line years and had johnson abby johnson from fidelity. so these are major institutions with trillions of dollars under management even beyond anything that paul tudor jones or stan, talking miller or the hedge fund guys manage these are big, big portfolio managers in the face now. right. i mean, this is like when gorillas make, you know, it makes a complete, makes quite a ruckus. well, i had not heard about this group situation, but it is interesting, nevertheless, to look at the, the giants of black rock now entering the space. and the fact that we're at all time highs again where we were in 2017 on the retail investor. and now we're getting to the institutional investor, the guys with not $10000.00 to their name, but tens of billions of dollars to their name and trillions of dollars to their name. so you

you said that back and june or so july, when paul tudor jones 1st announced that he had gone into bitcoin and you said as an alpha guy that all the other hedge funds would have to follow him. so he got in back in march, april the 2nd quarter of this year then followed stan druckenmiller and even probably about equal size hedge fund to paul tudor jones. legendary as well as the last hedge fund standing by, of course he's going to have to answer to his clients who are going to say, why shouldn't i pull my money out of bridgewater and give it to paul tudor jones or stan talkin. mellor, who are long bitcoin and seem to understand this new internet money plus raise have a horrible year, is like down 18 percent or so. so he's clearly doing something wrong. he needs to get with the program. well this program kais report educated somebody else. that is ricardo paly a go. he's the 3rd richest man in mexico. he owns azteca t.v. . we courted some kaiser reports at their studio and that was in 2015. you spoke to him, you told them to buy bitcoin. he now admits that he started to buy bit quaint, soon

paul tudor jones, michael saylor, you know, over there micro strategy. they're buying more big coal and then miners are, you know, creating a sense they are as the protocol is admitting, product daily basis. so there's a huge supply gap. is it possible we're going to see a situation where the majors, the big guys who are looking to buy $1000000000.00 at a click, would just go directly to you the miners and just say look, will buy directly from you will pay a premium. and it's going to be hard for retail people to have any access to pick one at all because it's just going to go right to the big guys. are going to see a vacuum of price just gallon pyar it. tell me if we're missing anything of anything in that scenario. so that's about right. i can see that price action is going to continue on for pickling the same way as the fed's balance sheet, and that's opened up enough. the as far as institutions going to play directly with minors, we're already starting to see some movement in that field as far as like, you know, k y c based pools. this was really com

there's people like paul tudor jones. there are people like stan truck miller and there are people like max keiser max keiser has had a price target of 20000 in the near term for quite a while. back, you know, in 2011 or 12, he said it might go 210-0000. citibank is now looking at their 4 x. strategist is looking at and says that big claim price to reach 3 $118000.00 by december 2021. as the new gold, citi bank director says, bequests market cycles are becoming larger and the current bull trend could take it to $318000.00 by december 2021 predicted a managing director at citi bank. he says this bull market started in 2018. that the bull markets and big question have been getting longer and longer each cycle. and so this is why just based on comparing it to previous cycles and then being conservative about how much it's going to go up compared to previous cycles in the bitcoin market. since, you know, 2009 he says he's predicting a price of $318000.00 just based on a conservative estimate compared to previous trends. right

you are seeing the likes of paul tudor jones saying 1% where fidelity is often advising 5% or more. are seeing both of these demands come into play. still, most of america and a lot of the world is still not in digital assets or aware of digital assets. there is still a heavy push on education and assets. you also have a sense of worldwide solidarity around this asset class. romaine: we have a chart that i think we showed by accident earlier which sort of shows you kind of the interest in people clicking on stories about bitcoin, about the numbers of mentions of bitcoin and how that correlates to price. of7-2018, that has sort fallen off now. i'm curious, as more attention comes back into bitcoin, whether that will be positive. it seems that a lot of the stories written seemed to take a negative for skeptical stance about the future of bitcoin and crypto. been resonating with people. people are just bringing in the practical benefits of digital assets. we can trade them 24/7. we can access them on our homes. we can be in our home safe especially during lockdown. these are critical t

you said that back and june or so july when paul tudor jones.

paul tudor jones stand talking mellor. michael saylor and figure out who has more skin in the game, who's actually have has a better track record over 3040 years that you could see with some of these guys, computer stuff and write dahlia should open up a pub somewhere in the middle of nowhere. and cry in their beer all day long because they messed up so badly. anyway. then take a break. when we come back, much more coming your way to join me every foes on the alex song with sure. and i'll be speaking to us of the world of politics or business. i'm show business a new gold rush is underway and gonna thousands of ill equipped workers are flocking to the gold fields, hoping to strike it. rich. as children are torn between gold, my family was very poor. i thought i was doing my best to get back to school. which side will have the strongest appeal? during the vietnam war, u.s. forces are also bombs in neighboring laos. there was a secret war. and for years the american people did not know until our thelma is officially mouth. c

months ago, he took a position and now everyone following suit, as i said, where a pool or a paul tudor jones goes, the market follows. and now the market is provably following paul tudor jones, this is the situation as we head into 2021. it's all laid out in front of you., there are will be another 2nd round of p.p.p., the 1st $550000000000.00. i don't think all of it was lent out,, but whatever was like a huge portion of it was fraud, including j.p., morgan bankers, you know, j.p. morgan itself, did it inform the department of justice. it looks like a couple dozen of their bankers actually took out some loans that they didn't qualify for. we had it for other banks. so let's, i'm going to stop the, by the administration for wanting to do that because, you know, a lot of those people who plunder the system also donate money to your campaign. so, you know, you give them the free money from the taxpayer and they give you back some. so there's less laundry money laundering. we've had of that before. almost everything in the american economy when you pull it apart, is money laundering. in some wa

it's because you cannot cross the rubicon, you cannot pull a whole nation office, which i think paul tudor jones recognizes that this calm in the way it because the protocol is able to turn greed into an action which is securing the network to an action which is securing the network for as trans monfort in a way. but to get to that point, because i mean isn't confiscate a ball and why this is important and what you're to grab somebody property in the case of american for we're going to drop bombs on you. we're going to grab all your resources and force you to take the dollar. it's backed up as paul crocker . we're going drop bombs on you. we're going to grab all your resources and force you to take the dollar. it's backed up. that's. that's the end of the story and the only way to get any of my bitcoin is to offer me something that i'll trade for it. and that's peaceful trade. that's why is pro humanity and violent chaos again, we're saying, paul krugman are trained for it. and that's peaceful trade, that's why is pro humanity and violent chaos again, we're saying paul krugman is a nobel economi

people dismissed, and then they notice the people around them getting rich like in this case paul tudor jones.

people dismiss it and then they notice the people around them getting rich, like in this case, paul tudor jones, who's also in connecticut or stand up and druckenmiller who was hugely successful hedge fund guy. and they have to put away their biases and they have to take another look at it. and then once you really like a big point, like great value now is going for the very 1st time. you really distressed about a fan for years without actually looking at it. and once you actually start looking at it, you fall into the rabbit hole and he realizes that a world of crumbling money and board.

paul tudor jones is worth about 5000000000 that to hedge fund kings. you mentioned warren buffett. he's a value investor, so he buy stocks for the long haul that he thinks are under undervalued and another similar value. investor is bill miller, who became legendary at legg mason, a big fund out of boston. and he became famous when he had those 15 years in a row from 1901900 to 2005 of the, you know, no losses. he just kept outperforming the market. well, he says, wall street legend bill miller reveal strong big recommendation despite massive price surge. wall street legend, bill miller, the founder of investment manager miller value partners, says had he strongly recommends, big question at current prices, branding at the single best performing asset class in the last year, 5 year and 10 year periods. i think it's, you know, that the mean, this crazy mean that we see all around us. it's no coincidence that we're seeing this right at the election time that the likes of, of, of bill miller, of them talking. miller coming out now and saying they're going along, pickling, look so much

there's people like paul tudor jones. there are people like stan truck miller and there are people like max keiser max keiser has had a price target of 20000 in the near term for quite a while. back, you know, in 2011 or 12 you said it might go 210-0000. citibank is now looking at their 4 x. strata, just as looking at it and says that big price to reach $318000.00 by december 2021 . as the new gold, citi bank director says, bequests market cycles are becoming larger and the current bull trend could take it to $318000.00 by december 2021 predicted a managing director at citi bank. he says this bull market started in 2018. that the bull markets and big question have been getting longer and longer each cycle. and so this is why just based on comparing it to previous cycles and then being conservative about how much it's going to go up compared to previous cycles in the bitcoin market. since you know, 2009 he says he's predicting a price of 318000 just based on a conservative estimate compared to previous trends. right.

they say if paul tudor jones and bill miller say it's acceptable, maybe i should be getting into it itms to be driving some of the confidence here. >> throwing some shade on bitcoin. kate, thank you very much, kate rooney oil prices climbing again today again along with the rest of the market the energy etf, the xle jumping 4% is now the time to bet on energy our adtrers will debate that next on "power lunch." ♪ ♪ ♪ ♪ ♪ it's different because i have to talk to a computer. i get like 6 emails a day... olivia please turn your screen on. okay, lift the... there you go. mondays remote, tuesdays at school... it's the other way around. we might not be able to solve everything. but we can help make sure students and teachers can stay connected to learning. it's why at&t has connected more than 200 million students to brighter futures. >>> welcome back, everybody, to power lunch. let's check on oilwith dom chu >> it's bullish today. wti 4% gains $44.87 brent crude futures, 47.80, near 4% gains it's that continued optimism, incremental clarity around vaccines for covid, a smooth transition for

big investors like paul tudor jones. filed tom partners preserve the right to invest in bitcoin.hey are thinking about it clearly. that will hopefully open the floodgates to a broader audience than the crypto believers who have been there all along. emily: there has been some controversial developments out of coinbase, one of the biggest companies in this space tied to social justice issues. us why this this controversy and where things stand right now? katie: this is a hot topic in the crypto world. coinbase is one of the biggest exchanges out there. one of the most valuable crypto startups arguably. employees andse former employees on and off the record saying that they distributed -- they committed discriminatory behavior against people of color, including talking down to them in meetings or getting passed over for promotions. the space in general has a front history when it comes to hiring and retaining black talent. , 3% ofe's numbers coinbase's workforce is black, which is less than half the average in the industry. those numbers again paint a pretty bleak photo. emily: coi

. >> you know, some of the great investors of our time, stan druken miller and paul tudor jones, gold bulls and if they are not gold bulls they at least believe that -- that inflation -- it's possible that inflation comes back which is with the fed trying to gun the money supply here and with great fiscal stimulus and more fiscal stimulus i think that -- i think it's reasonable to own gold gold has done very well this year and i think silver is a better bet than gold, and the gold to silver ratio would tell you want to own silver but with respect to bitcoin i -- i just make it a little bit more of what you were saying been a great month for bitcoin and also been a great year to date, three years, five years and ten years and then bitcoin's inception was 12 years ago and it's been the single best performing asset category in every one of those periods not that it hasn't had a bad time, it went from nearly 20,000 down to in the 4,000 to 3,000 to 4,000 range so it's been very volatile i think right now its staying power gets better every day. i think the risks of bitcoin have been to zer

three years ago, had a terrific freefall but it doesn't seem like it when you have the puel paul tudor jones they can get. a lot more support this time around. what about things like marijuana stocks, looking fantastic since the election? i like the 3d printing space myself. electric vehicles. maybe some profit taking, for the most part these things have been gangbusters. i know a lot of young investors especially are coming in, they want to make a lot of money quickly, but what's the best way to actually trade these kind of areas? >> a lot of these stocks are based on hype. it's really important to not chase stocks solely on hype. it's okay to go with momentum. the trend is supposed to be your friend, right? most of the time it is. make sure you're not buying stocks at crazy valuation. price matters. it's important to develop a plan and stick to the plan. a shopping list of stocks that you are wanting to buy, unless they sell off 10%, 15%, 20%, scoop them back up. the shopping list is important for marijuana, electric vehicles, 3d printing. it's really important not to pay crazy valuations.

because the happening was taking place now i think we are seeing credible investors starting with paul tudor jones and stan druckenmiller. we are seeing interest from our clients, we are getting inbound queries. i think the quality of the team supporting bitcoin continue to be high. as you know, bitcoin is a really secure network and proving to be a good store value and i think a better alternative to gold in terms of those looking for digital gold. >> past 16,000, tom lee thank you, jeff sherman good to see you as well. >>> coming up on the show, investing legend jeremy grantham told us in june that the market was looking at a fourth real mccoy bubble of his career have his views changed because of the election results and the covid vaccine results? we will find out in a few minutes. you are watching "closing bell" here on cnbc >>> back in june, legendary investor and gmo cofounder jeremy grantham called the market the fourle real mccoy double of his investment career. he also advised investigators have zero exposure to u.s. equities the s&p is up 14% since those comments earlier i sat down with