Paul Tudor Jones Bullish on Gold and Bitcoin Ahead of Election

Billionaire Paul Tudor Jones is optimistic about gold and Bitcoin.
The hedge fund manager stated in a CNBC interview that commodities are undervalued.

Paul Tudor Jones has expressed that he is invested in the valuable metal gold and the digital asset Bitcoin (BTC) as the US elections approach, particularly given the ongoing inflationary challenges beyond the November elections.

During an interview with CNBC’s Andrew Ross Sorkin on October 22, the billionaire hedge fund manager outlined his investment philosophy. Jones, who founded and heads Tudor Investment, confirmed to Sorkin that he is long on both gold and bitcoin.

“I’m long gold, I’m long bitcoin, I think commodities are so ridiculously under-owned, so I’m long commodities,” shared @ptj_official. “I probably have a mix of gold, bitcoin, commodities, and Nasdaq – something like that. And I own zero fixed income.” pic.twitter.com/i152rZFlbs

— Squawk Box (@SquawkCNBC) October 22, 2024

Bitcoin and Gold

According to the CIO of Tudor Investment, commodities are “ridiculously under-owned,” which is why he is optimistic about this asset class. Furthermore, Jones has a long-term position in Nasdaq, regardless of the outcome of the US presidential election. Data from Polymarket indicates that the majority of crypto traders on the platform favor Donald Trump.

While he maintains a positive outlook on Bitcoin, gold, and commodities, Jones holds a negative stance on bonds due to concerning government spending. He cautions that without significant action from the government, the bond market may face a considerable downturn.

In light of this perspective, the hedge fund manager has no intention of investing in fixed income.

“The question is post-election, will we encounter a Minsky moment here in the United States and in U.S. debt markets?” he remarked.

At the time of this writing on Tuesday, October 22, the price of Bitcoin hovered around $67,500, reflecting a 52% increase year-to-date and a remarkable 125% rise over the past year. The cryptocurrency reached an all-time high of $73k in March.

In contrast, gold has seen significant growth recently, with its price reaching $2,747.68 on Tuesday, marking a new all-time high. Gold prices have surged over 33% year-to-date.