Unless you were hiding under a rock on Thursday, you would have seen the letter by macro investor Paul Tudor Jones that outlines his case for owning bitcoin as a hedge against central bank money printing.

In the letter – titled The Great Monetary Inflation – Jones dropped the bombshell update that Tudor Investment Corp could allocate a percentage of its assets to bitcoin futures. Although Jones doesn't subscribe to owning bitcoin "in isolation" or view himself as a "crypto nut," the coin community propelled into euphoria at the sight of one of the most respected fund managers giving the burgeoning asset a stamp of approval.

Galaxy Digital's Mike Novogratz – having once sat in a similar seat to Jones as a macro investor – joined The Scoop's Frank Chaparro and discussed the significance of Jones' letter. This latest episode also digs into:

The macro investor's toolbox: Why it doesn't matter that Jones might allocate to futures rather than spot bitcoin
More funds on the sidelines: Novogratz says many major fund managers he knows own bitcoin in their personal accounts but say it's too difficult to buy through their funds
Update on Galaxy: How the firm revamped its playbook to take advantage of the new environment and why subscriptions for the asset management business have increased
The macro picture: Why inflation could follow a period of deflation
The dollar: Why Novogratz thinks the chances of China taking on dollar hegemony is at an all-time high
Halving: How it’s fueling bitcoin’s bullish narrative and where bitcoin’s price is going after it happens

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'It opens up a new universe': Mike Novogratz on the significance of Paul Tudor Jones' bullish bitcoin take 29:52 Share

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'It opens up a new universe': Mike Novogratz on the significance of Paul Tudor Jones' bullish bitcoin take