Legendary macro investor Paul Tudor Jones recently made a strong argument for bitcoin to seek refuge from the Great Monetary Inflation (GMI). But most investors consider bitcoin too risky.However, a simple study shows bitcoin does add value to a balanced portfolio: a 2% allocation improves returns without adding extra risks, thanks to diversification.Investment risks: wild swings by bitcoin. Investors do need a long horizon and a steady hand to realize the diversification benefits.When it comes to bitcoin, speculate like Tudor and hold it like Buffett.