Paul Tudor Jones says he is long gold and bitcoin.
Billionaire Paul Tudor Jones is bullish on gold and bitcoin. The hedge fund manager told CNBC in an interview that he does not own commodities.
Paul Tudor Jones is long precious metal gold and digital asset Bitcoin (BTC) ahead of the US election and inflation will continue above the November vote.
The billionaire hedge fund manager shared his investment strategy with CNBC's Andrew Ross Sorkin on October 22. Jones, founder and CEO of Tudor Investments, told Sorkin his trading strategy is long gold and long bitcoin.
@ptj_official “I'm long gold, long bitcoin, I think I'm long commodities because commodities are ridiculously under-owned.” “I probably have some basket of gold, bitcoin, commodities and Nasdaq, that kind of thing. And I have zero fixed income.” pic.twitter.com/i152rZFlbs
— Squawk Box (@SquawkCNBC) October 22, 2024
Bitcoin, gold
According to the CIO of Tudor Investments, the market has commodities that are “ridiculously under-owned” and that's why it's bullish on commodities. Jones also has the Nasdaq as a long-term bet — regardless of who wins the U.S. presidential election. Data on Polymarket shows that most of the crypto traders on the platform are leaning towards Donald Trump.
While he maintains a bullish view on BTC gold and commodities in general, Jones is bullish on bonds as he worries about government spending. He believes that if the government does not take a serious look at this issue, the bond market could experience a massive selloff.
In this view, the hedge fund manager does not intend to hold any fixed income.
“The question is, will we have a Minsky period here in the United States and in the American debt markets after this election?” He commented.
At the time of writing on Tuesday, October 22, the price of Bitcoin hovered around $67,500, up 52% year-to-date and 125% over the previous year. The cryptocurrency hit a high of $73k in March.
Meanwhile, gold has been on a tear in recent weeks. As of Tuesday, the price of the precious metal has reached $2,747.68. Gold prices are up over 33% year-to-date.
