Tag: Long

  • Paul Tudor Jones says he’s long gold and Bitcoin

    Paul Tudor Jones says he’s long gold and Bitcoin

    • Billionaire Paul Tudor Jones is bullish on gold and Bitcoin
    • The hedge fund manager told CNBC that commodities are under-owned

    Paul Tudor Jones says he is long the precious metal gold and digital asset Bitcoin (BTC) ahead of the US election and as inflationary pressures look to persist beyond the November vote.

    The billionaire hedge fund manager shared his investment strategy during an interview with CNBC’s Andrew Ross Sorkin on October 22. Jones, the founder and chief investment officer of Tudor Investment, told Sorkin that his trading strategy is long gold and long Bitcoin.

    Bitcoin, gold

    According to the Tudor Investment CIO, the market has commodities “ridiculously under-owned” and that’s why he’s bullish on commodities as well. Jones also has Nasdaq as a long-term bet – despite who wins the US presidential election. Data on Polymarket shows most crypto traders on the platform are leaning toward Donald Trump.

    While he takes a bullish outlook on BTC, gold, and commodities in general, Jones is bearish on bonds amid worrying government spending. He believes if the government doesn’t get serious about this, it’s a scenario that could see the bond market hit a major sell-off.

    Amid this outlook, the hedge fund manager doesn’t plan to own any fixed income.

    “The question is after this election will we have a Minsky moment here in the United States and US debt markets?” he commented.

    Bitcoin’s price hovered around $67,500 at the time of writing on Tuesday, October 22, up 52% year-to-date and 125% over the past year. The cryptocurrency rallied to an all-time high of $73k in March.

    Meanwhile, gold has been on a tear in recent weeks. As of Tuesday, the precious metal’s price ticked $2,747.68 for an all-time high. Gold’s price has increased over 33% year-to-date.



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  • ‘I’m more comfortable being long Bitcoin today’

    ‘I’m more comfortable being long Bitcoin today’

    galaxy digital ceo shares view on bitcoin
    • Michael Novogratz puts Bitcoin and Gold in the same bucket.
    • Wolfe Research strategist reiterated his bullish view on BTC.
    • Bitcoin is currently up 80% versus the start of the year 2023.

    Owning Bitcoin today is nowhere as scary as it was about six months ago, says Michael Novogratz – the Chief Executive of Galaxy Digital.

    Novogratz shares his view on Bitcoin

    Interest rates continued to go up this year; FTX collapsed; the U.S. Securities & Exchange Commission came down hard on bellwethers of the crypto space.

    And yet, Bitcoin has outperformed every other financial asset – now up 80% year-to-date.

    What that establishes beyond doubt, as per Novogratz, is that the world’s largest cryptocurrency is here to stay. On CNBC’s “Squawk Box”, he said:

    The normalization of 5.0% budget deficit … is why Bitcoin, gold, silver trade great. I put them all in the same bucket. Bitcoin has got the additional adoption cycle.

    Novogratz sees Bitcoin as digital gold

    Novogratz drives his optimism also from BlackRock Inc that has recently filed with the regulator for a Spot Bitcoin ETF which could boost institutional interest in the digital asset.

    I’m more comfortable being long Bitcoin today than I was six months ago. I like to think of BTC as digital gold to store value.

    Meanwhile, Jacobi Asset Management is all set to debut its Bitcoin-focused exchange-traded fund in Europe by the end of this year.

    Also on Thursday, Wolfe Research strategist Rob Ginsberg reiterated his bullish view on BTC. He agreed, though, that the cryptocurrency has to fight an uphill battle to reclaim its former highs.

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  • Shiba Inu and Dogecoin (DOGE) Price Surge May Not Last Long- Experts Say

    Shiba Inu and Dogecoin (DOGE) Price Surge May Not Last Long- Experts Say

    Crypto experts are cautioning that the current Shiba Inu and Dogecoin (DOGE) price surge might not last long as many investors anticipated.

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