Famous billionaire and hedge fund giant Paul Tudor Jones has spoken positively about bitcoin (BTC) and gold. He gives geopolitical risks and rising American interest rates as reasons for his interest in the duo.
With the military conflict in Ukraine and the more recent escalation in Israel and Palestine, the world geopolitical scene is on edge. American interest rates also remain high and, according to the billionaire, this is not an ideal recipe for shares. However, this is beneficial for bitcoin and gold, he says in an interview with the American news channel CNBC.
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Paul Tudor Jones is a fan of gold and bitcoin
He said current conditions are creating “the most dangerous geopolitical climate he has ever seen.” According to him, the fiscal position of the United States is also the weakest since the Second World War.
“When interest rates rise in the United States, you end up in a vicious circle. Higher interest rates lead to higher financing costs. This leads to higher debts. This leads to bond liquidations, which in turn leads to higher interest rates. This puts us in an unsustainable fiscal position.”
According to Tudor Jones. This situation makes it very unattractive to invest in shares, but gold and bitcoin are currently interesting, the hedge fund manager believes.
In 2020, Tudor Jones openly announced that he was investing part of his portfolio in crypto. Later, in 2021, he said he wanted to invest 5 percent of his portfolio in crypto. So the bear market hasn’t shaken him off. He is still a big supporter of bitcoin.
More supporters of bitcoin and gold
Tudor Jones thus agrees with the statements that experienced macro investor Luke Groman shared last week. Groman then said that gold and bitcoin are heading for good times. He said the following in an interview:
“When a country has fiscal problems, (bitcoin and gold) do well. When the world and countries that use the reserve currency (dollar) have fiscal problems, this is very good for bitcoin and gold.”
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