Paul Tudor Jones is a hedge-fund manager who continues to be a proponent of bitcoin in the face of equities being difficult to invest.
In an interview with CNBC on Tuesday, the billionaire said that the US will likely slip into recession during the first quarter 2024.
“I would love gold and bitcoin together,” Tudor Jones said. “I think they probably take on a larger percentage of your portfolio than they would [historically] because we’re going to go through both a challenging political time here in the United States and we’ve obviously got a geopolitical situation.”
Tudor Jones has made some comments about the recent remarks. “might be the most threatening and challenging geopolitical environment that [he’s] ever seen.” The US, he said, is a nation of immigrants. “probably in its weakest fiscal position since World War II.”
Hamas had attacked Israel over the past weekend, and Israel declared war on Hamas. Israeli forces responded by intensifying airstrikes in the Gaza Strip, as early on Tuesday the Israeli and Palestinian death toll stood at approximately 1,600.
It is the latest chapter in a decades-long conflict and follows the ongoing expansion of Israeli settlements in occupied Palestinian territories — which UN delegates have said violates international law.
This weekend’s conflict “triggered a wave of safe-haven flows towards bonds, oil and gold,” OANDA Senior Market Analyst Edward Moya explained in a Research Note on Monday.
“It’s a really challenging time to want to be an equity investor in US stocks right now,” Tudor Jones said.
Moya wrote in a post on Tuesday, that Treasury yields fell because of the Federal Reserve’s more dovish attitude. “a great day” Gold.
“The flight-to-safety isn’t over yet, especially considering all the risks to the outlook for the consumer,” Moya wrote.
Tudor Jones doubling down on bitcoin comes after he said in May that he believes in maintaining a small allocation to bitcoin — noting its limited supply that humans can’t tamper with.
“I’m sticking with it,” Tudor Jones stated at the moment. “I’m always going to stick with it.”Bitcoin’s (BTC) price was at about $27,400 at 2 pm ET on Tuesday — roughly flat over the past seven days. The asset’s value is about 65% higher year-to date.
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