hold or not - Billionaire Paul Tudor Jones Confirms He Is Bitcoin Bull

"All roads lead to inflation," said billionaire hedge fund manager Paul Tudor Jones when asked if he is long on gold and Bitcoin (BTC) amid the global financial firestorm. He then goes on to reveal that he is indeed long on both the major cryptocurrency and the precious metal.

With some $12 billion in assets under management at Tudor Investment Corporation, the fund's founder revealed in a rant that he believes commodities are also criminally underowned. As Tudor himself revealed somewhat cryptically, he "probably" has a basket of gold, Bitcoin, commodities and NASDAQ stocks.

'Rich Dad Poor Dad' Author Kiyosaki Reveals Best Asset Today, and It Is Not Bitcoin or Gold Gamza Khanzadaev

HOT Stories

Peter Schiff Issues Warning on MicroStrategy Stock: Details

Musk's "Buy Bitcoin" Tweet Turns 6

35,770,000,000,000 Reasons: Gemini Stuns Crypto Community With Bitcoin Post

XRP Price Might Be in Danger Zone: Possible Scenarios

Despite the initial excitement in the crypto community caused by the billionaire backing the major cryptocurrency, saturating the market with positivity regarding the future of Bitcoin as a hedge against inflation and proving its claim to be "digital gold" or even "gold 2.0," Tudor is actually an early Bitcoin supporter and has shared his bullishness on the major cryptocurrency over the past two years.

BREAKING: BILLIONAIRE HEDGE FUND MANAGER PAUL TUDOR JONES SAYS “I’M LONG GOLD, I’M LONG BITCOIN”pic.twitter.com/DYfsCjnkff— DEGEN NEWS (@DegenerateNews) October 22, 2024 The news that Jones was getting into Bitcoin first came out in a letter to his clients. In it, he compared investing in BTC to buying gold in the 1970s and said that inflation was likely to rise because of the Federal Reserve's response to the global pandemic. Well, fast forward four years, and here we are. Bitcoin (BTC): Price outlook Meanwhile, the price action of the so-called "digital gold" continues to confuse participants in the crypto market.

SEC Includes Cryptocurrency in Top Priorities for 2025 Gamza Khanzadaev

On the one hand, the price of Bitcoin was denied from $68,000, which is seen as a major test for the bulls to prove their ambition for a new all-time high. On the other hand, no major sellers are in sight, and the incoming intertwining of moving averages on the daily chart teases that a golden cross may soon appear for BTC.