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Cryptocurrency News Articles
Billionaire Paul Tudor Jones Reveals He's Long on Bitcoin, Gold and Commodities to Hedge Against Inflation
Oct 23, 2024 at 02:44 am
The billionaire hedge fund manager shared his bullish outlook on Bitcoin (BTC), gold and commodities as effective tools to protect against inflation.
Billionaire hedge fund manager Paul Tudor Jones has shared his bullish outlook on Bitcoin (CRYPTO: BTC), gold, and commodities as effective tools to protect against inflation.
During an appearance on CNBC’s Squawk Box on Tuesday, Tudor Jones stated, “All roads lead to inflation.” He revealed that he is long on gold, Bitcoin, and commodities.
“Commodities are so ridiculously under-owned. So, I’m long commodities,” he added.
He also noted that younger investors tend to hedge inflation through the NASDAQ, but he suggested a blend of gold, Bitcoin, commodities, and NASDAQ holdings. In contrast, he expressed skepticism about fixed-income investments.
Tudor Jones further explained that inflating the economy could be a potential way to resolve current financial challenges. He cited Japan’s low-interest strategy as a model.
“Japan, with 2% inflation and 30 basis points overnight, doesn’t want to raise rates,” he remarked. “The playbook to get out of this is that you inflate your way out.”
What Happened Next: Tudor Jones’ comments come amid an ongoing debate over Bitcoin’s correlation with gold. A recent CryptoQuant report highlighted a negative correlation between the two, indicating a preference for traditional safe-haven assets like gold.
However, Charles Edwards of Capriole Investments noted that Bitcoin often follows gold’s price movements with a lag, suggesting that Bitcoin might soon mirror gold’s rise.
This discussion underscores the uncertainty around the optimal inflation hedge, as evident in diverse investor opinions.
Coming Soon: The influence of Bitcoin as an institutional asset class will be a key topic at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.
Don’t miss out on hearing from industry leaders and experts as they discuss the latest trends and developments in crypto, Web3, and digital assets.
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- SEC Commissioner Criticizes Enforcement-First Approach to Crypto Regulation
- Oct 23, 2024 at 10:15 am
- U.S. Securities and Exchange Commission (SEC) Commissioner Mark T. Uyeda raised significant concerns about the regulatory treatment of cryptocurrencies and digital assets at the Los Angeles County Bar Association's 55th Annual Securities Regulation Seminar in Washington D.C. last week.