In a recent interview with CNBC, billionaire hedge fund manager and legendary investor Paul Tudor Jones expounded on his bullish stance on Bitcoin amidst mounting global tensions and economic uncertainties.
Jones, an influential figure in the investment world, highlighted the current geopolitical environment as one of the most “threatening and challenging” he has ever witnessed and emphasized the importance of diversifying investment portfolios with assets like Bitcoin and gold.
Jones told CNBC, “I love gold and bitcoin together. 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.”
Now Is The Time To Buy Bitcoin And Gold
Recent global events have exacerbated these sentiments. Over the weekend, the Israeli government launched a military response against Hamas following an attack on Israel, escalating tensions in an already fragile Middle Eastern region. Additionally, Russia’s recent invasion of Ukraine and growing discord between China and the US have further rattled global markets and economies.
In the same breath, Jones remarked on the US’s alarming fiscal position, stating it’s “probably in its weakest fiscal position since World War II.”
Responding to concerns about the potential impact of high interest rates on Bitcoin, Jones delved deeper into the dynamics of gold and market trades preceding a recession. He stipulated, “I think on a relative basis what’s happened to gold, it has been clearly suppressed. But you know that more likely or not we are going into a recession.”
Jones underscored a few hallmarks of recessionary trading environments, indicating, “There are some pretty clear recession trades. The easiest are: the yield curve gets very steep, home premium goes into the backend of the debt market and the 10-year, 30-year, 7-year paper, the stock market typically right before recession declines about 12%.” This decline, according to Jones, is not just plausible but likely to transpire at a certain juncture.
Additionally, he emphasized the prospective bullish market for assets like Bitcoin and gold during economic downturns, stating, “And when you look at the big shorts in gold, more likely or not in a recession, the market is typically very long; assets like Bitcoin and gold.”
Jones further…
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