April 19, 2024
Paul Tudor Jones Advocates Bitcoin as a Wise Choice Amidst Geopolitical Uncertainty
Bitcoin News

Paul Tudor Jones Advocates Bitcoin as a Wise Choice Amidst Geopolitical Uncertainty

Top investor Paul Tudor Jones remarked on October 10th that, given the present “threatening geopolitical environment,” Bitcoin is a wise choice.

In an interview with CNBC on Tuesday, the multibillionaire hedge fund manager claimed that the Israeli-Gaza conflict, Russia’s invasion of Ukraine, and tensions between China and the United States make this a “really difficult time” for everyone.

Additionally, he stated that China, Russia, and North Korea were all ruled by “sociopaths” and that the United States was likely in its “weakest fiscal position since unquestionably World War II.”

Due to this, he argued that investors should consider Bitcoin in addition to the classic haven asset, gold.

“I like Bitcoin and I like gold right here,” Jones stated, later adding that both assets should “probably take on a larger percentage of your portfolio than historically they would.”

He went on to predict that the American economy may enter a recession if the Federal Reserve keeps rapidly raising interest rates.

Longtime supporters of Bitcoin have argued that the currency may serve as a refuge amid economic downturns.

One wealthy investor, Jones, has already stated that he believes Bitcoin to be an inflation hedge.

“Bitcoin is math, and math has been around for thousands of years,” he stated back in 2021.

The largest cryptocurrency by market size, according to him, is a “way for me to invest in certainty.”

His increasing investment in Bitcoin was disclosed at the time during an interview on CNBC. He saw it as a “bet on certainty amid uncertain economic conditions.”

Image: Flickr

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