Billionaire investor and hedge fund manager Paul Tudor Jones is touting Bitcoin (BTC) as an attractive option as war rages in the Middle East and geopolitical risks escalate.
In an interview on CNBC television, Jones said that global conflicts and rising U.S. government debt levels make it difficult to own stocks right now, but that Bitcoin and gold present attractive alternatives to investors.
“This might be the most threatening geopolitical environment I've ever seen,” said Jones, who added that America’s fiscal position is currently the weakest it has been since World War II.
“I can’t love stocks,” said Jones. “But I love Bitcoin and gold.”
Jones has long been a cryptocurrency bull. In May 2020, he said publicly that he had put 1% to 2% of his assets in Bitcoin. A year later, he said he had increased his allocation in Bitcoin to 5%.
Paul Tudor Jones founded his hedge fund Tudor Investment Corporation in 1980. He came to prominence for correctly predicting the 1987 stock market crash known as “Black Monday.”
Jones managed to triple his money during the Black Monday crash due to large short positions he held at the time.
Forbes magazine estimates Jones’ net worth at $7.3 billion U.S.
