Hedge Fund Billionaire Paul Tudor Jones Prefers Bitcoin and Gold Amid Geopolitical Conflicts and Recession Concerns
Hedge fund billionaire Paul Tudor Jones is considering Bitcoin (BTC) and gold as geopolitical conflicts rise and the likelihood of a recession looms. In an interview with CNBC, Jones reveals his preference for BTC and the precious metal due to anticipated economic trouble that could lead to a significant correction in equities.
According to Jones, both gold and Bitcoin should have a larger allocation in investment portfolios than in the past because of the challenging political climate in the United States and global geopolitical tensions. He suggests that investors will likely invest at least $40 billion into gold as a recession approaches, and Bitcoin might also find a place in cautious portfolios.
Recession Predictions and Market Conditions
Jones predicts that a recession will occur in the first quarter of next year, driven by the Federal Reserve’s hawkish stance and the rising yields on long-term U.S. Treasury bonds. He believes that the bond market, due to supply and demand dynamics, will deliver more rate hikes, pushing the economy into a recession.
Bitcoin’s Current Trading Price
As of now, Bitcoin is trading at $27,444, with a 0.3% increase over the past 24 hours.
Hot Take: Paul Tudor Jones Advocates for Bitcoin and Gold Amid Economic Uncertainty
Hedge fund billionaire Paul Tudor Jones sees potential in Bitcoin and gold as economic troubles brew. With geopolitical conflicts intensifying and a looming recession on the horizon, he believes that both assets should hold a larger position in investment portfolios. Anticipating at least $40 billion pouring into gold as investors brace for a recession, Jones acknowledges that Bitcoin may also be a suitable addition to cautious portfolios. He warns of an impending recession in the first quarter of next year, driven by the Federal Reserve’s actions and rising yields on long-term U.S. Treasury bonds. As Bitcoin continues to trade at $27,444, it remains an attractive asset amidst uncertain times.
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