Famous billionaire investor Paul Tudor Jones indicated that he sees Bitcoin and gold as preferable investments over stocks due to America’s large debts and geopolitical risks.
In an interview with CNBC on October 10th, he mentioned that it’s a tough time to invest in risky assets due to increasing geopolitical tensions and America’s challenging economic situation. The founder and chief investment officer of Tudor Investment stated that it’s currently tough to be a stock investor in America. He pointed out that America is currently in its weakest financial situation since World War II, with a debt ratio of 122% relative to GDP. According to CNBC, he said the Israel-Hamas war poses significant geopolitical risks. He expressed that this situation could increase the risk in the market. Jones said,
“I can’t like stocks, but I love Bitcoin and gold.”
He attributed America’s financial troubles to high interest rates and increasing debts. Currently, interest rates are at 5.5%, while the national debt is at a record level of 33.5 trillion dollars.
The investor maintained his interest in Bitcoin over the last three years and mentioned that he allocated 1-2% of his assets to BTC in 2020. The next year, he indicated wanting to invest 5% in Bitcoin. He continued his interest in this asset even during the tough times of 2023.
BTC Price Projection
Despite this major support, Bitcoin (BTC) currently dropped by 2%, trading at $27,151.
Bitcoin couldn’t break the $28,000 resistance over the weekend and declined to its lowest level since October 1st.
Experts noticed this movement in the market but pointed out that the long-term trend has been upward since last November.
