Paul Tudor Jones says he’s long gold and Bitcoin

Date:

Share post:



06 Bitcoin and Gold 3
  • Billionaire Paul Tudor Jones is bullis on gold and Bitcoin.
  • The hedge fund manager told CNBC in an interview that commodities are under-owned.

Paul Tudor Jones says he is long the precious metal gold and digital asset Bitcoin (BTC) ahead of the US election and as inflationary pressures look to persist beyond the November vote.

The billionaire hedge fund manager shared his investment strategy during an interview with CNBC’s Andrew Ross Sorkin on Oct. 22. Jones, the founder and chief investment officer of Tudor Investment, told Sorkin that his trading strategy is long gold and long bitcoin.

Bitcoin, gold

According to the Tudor Investment CIO, the market has commodities “ridiculously under-owned” and that’s why he’s bullish on the commodities as well. Jones also has Nasdaq as a long term bet – despite who wins the US presidential election. Data on Polymarket shows most crypto traders on the platform lean Donald Trump.

While he takes a bullish outlook on BTC gold and commodities in general, Jones is bearish on bonds amid worrying government spending. He believes if the government does not get serious about this, it’s a scenario that could see the bond market hit a major sell-off.

Amid this outlook, the hedge fund manager does not also plan to own any fixed income.

“The question is after this election will we have a Minsky moment here in the United States and U.S. debt markets?” he commented.

Bitcoin price hovered around $67,500 at the time of writing on Tuesday, Oct. 22, up 52% year-to-date and 125% over the past year. The cryptocurrency rallied to an all-time high of $73k in March.

Meanwhile, gold has been on a tear in recent weeks. As of Tuesday, the precious metal’s price ticked $2,747.68 for an all-time high. Gold price has increased over 33% year-to-date.





Source link

Alexandra Williams
Alexandra Williams
Alexandra Williams is a writer and editor. Angeles. She writes about politics, art, and culture for LinkDaddy News.

Recent posts

Related articles