BillionairePaulTudorJonesisbullisongoldandBitcoin.
ThehedgefundmanagertoldCNBCinaninterviewthatcommoditiesareunder-owned.
PaulTudorJonessaysheislongthepreciousmetalgoldanddigitalassetBitcoin(BTC)aheadoftheUSelectionandasinflationarypressureslooktopersistbeyondtheNovembervote.
ThebillionairehedgefundmanagersharedhisinvestmentstrategyduringaninterviewwithCNBC’sAndrewRossSorkinonOct.22.Jones,thefounderandchiefinvestmentofficerofTudorInvestment,toldSorkinthathistradingstrategyislonggoldandlongbitcoin.
\"I\'mlonggold,I\'mlongbitcoin,Ithinkcommoditiesaresoridiculouslyunder-ownedsoI\'mlongcommodities,\"says@ptj_official.\"Iprobablyhavesomebasketofgold,bitcoin,commoditiesandNasdaq,somethinglikethat.AndIownzerofixedincome.\"pic.twitter.com/i152rZFlbs
—SquawkBox(@SquawkCNBC)October22,2024
Bitcoin,gold
AccordingtotheTudorInvestmentCIO,themarkethascommodities“ridiculouslyunder-owned”andthat’swhyhe’sbullishonthecommoditiesaswell.JonesalsohasNasdaqasalongtermbet–despitewhowinstheUSpresidentialelection.DataonPolymarketshowsmostcryptotradersontheplatformleanDonaldTrump.
WhilehetakesabullishoutlookonBTCgoldandcommoditiesingeneral,Jonesisbearishonbondsamidworryinggovernmentspending.Hebelievesifthegovernmentdoesnotgetseriousaboutthis,it’sascenariothatcouldseethebondmarkethitamajorsell-off.
Amidthisoutlook,thehedgefundmanagerdoesnotalsoplantoownanyfixedincome.
“ThequestionisafterthiselectionwillwehaveaMinskymomenthereintheUnitedStatesandU.S.debtmarkets?”hecommented.
Bitcoinpricehoveredaround$67,500atthetimeofwritingonTuesday,Oct.22,up52%year-to-dateand125%overthepastyear.Thecryptocurrencyralliedtoanall-timehighof$73kinMarch.
Meanwhile,goldhasbeenonatearinrecentweeks.AsofTuesday,thepreciousmetal’spriceticked$2,747.68foranall-timehigh.Goldpricehasincreasedover33%year-to-date.
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