Virgin Galactic venture capitalist and chairman Chamath Palihapitiya has once again made Bitcoin known on CNBC's Squawk Box by promoting it as uncorrelated coverage. Whatever you think of a classic economic theory or schmuck insurance where you are somewhat skeptical of the established ruling masses, it is important that we have coverage, uncorrelated coverage.

Palihapitiya says he's still struggling to find an asset as decorrelated as Bitcoin .

During the March sale, the BTC began trading with traditional stocks and other asset classes, but has apparently decoupled in recent weeks with usual bouts of volatility. ”

Paul Tudor Jones understands

Palihapitiya explained the reason for the Bitcoin bet made by hedge fund manager Paul Tudor Jones.

He says legendary investor, who now holds nearly two percent of his $ 5.1 billion net worth in BTC , turned to the world's first cryptocurrency to protect himself from “the massive deflationary spiral ”.

Although it was cut from a different tissue, Jones invested in Bitcoin instead of gold as a hedge against fiat money. 

"Crypto Dad" has a show of hands  

Meanwhile, longtime CNBC host Joe Kernen also came out as a Bitcoin holder during the interview with Palihapitiya.  

While disclosing his assets, Kernen said it was north of "three cents on the dollar." This translated into about three percent of his net worth.   

In particular, it has come a long way since calling BTC a "Ponzi scheme" to compare it to Amazon at the start of the business, which has even earned Kernen its nickname "Crypto Dad".