- Billionaire Paul Tudor Jones is bullish on gold and Bitcoin
- The hedge fund supervisor instructed CNBC that commodities are under-owned
Paul Tudor Jones says he’s long the dear steel gold and digital asset Bitcoin (BTC) forward of the US election and as inflationary pressures look to persist past the November vote.
The billionaire hedge fund supervisor shared his funding technique throughout an interview with CNBC’s Andrew Ross Sorkin on October 22. Jones, the founder and chief funding officer of Tudor Investment, instructed Sorkin that his buying and selling technique is long gold and long Bitcoin.
“I’m long gold, I’m long bitcoin, I think commodities are so ridiculously under-owned so I’m long commodities,” says @ptj_official. “I probably have some basket of gold, bitcoin, commodities and Nasdaq, something like that. And I own zero fixed income.” pic.twitter.com/i152rZFlbs
— Squawk Box (@SquawkCNBC) October 22, 2024
Bitcoin, gold
According to the Tudor Investment CIO, the market has commodities “ridiculously under-owned” and that’s why he’s bullish on commodities as effectively. Jones additionally has Nasdaq as a long-term guess – regardless of who wins the US presidential election. Data on Polymarket reveals most crypto merchants on the platform are leaning towards Donald Trump.
While he takes a bullish outlook on BTC, gold, and commodities usually, Jones is bearish on bonds amid worrying government spending. He believes if the federal government doesn’t get critical about this, it’s a state of affairs that might see the bond market hit a serious sell-off.
Amid this outlook, the hedge fund supervisor doesn’t plan to own any fixed income.
“The question is after this election will we have a Minsky moment here in the United States and US debt markets?” he commented.
Bitcoin’s worth hovered round $67,500 on the time of writing on Tuesday, October 22, up 52% year-to-date and 125% over the previous 12 months. The cryptocurrency rallied to an all-time excessive of $73k in March.
Meanwhile, gold has been on a tear in current weeks. As of Tuesday, the dear steel’s worth ticked $2,747.68 for an all-time excessive. Gold’s worth has elevated over 33% year-to-date.
