2023-10-11 00:30 |
Amidst the churn of geopolitical unrest, billionaire investor Paul Tudor Jones heralds Bitcoin as a robust choice for investors.
The narrative of Bitcoin as a safe haven asset resonates louder as the drums of war beat between Israel and Gaza, augmented by the noise of global tensions involving Russia, China, and the United States.
Bitcoin Is a Good Bet During Israel-Gaza WarPaul Tudor Jones, a veteran hedge fund manager, voiced his endorsement for Bitcoin in a recent interview. He reflected on the tumultuous geopolitical canvas of today. Additionally, Jones pointed out the delicate fiscal health of the US, deemed its weakest since the World War II epoch.
Furthermore, Jones cast a grim picture, naming China, Russia, and North Korea under the helm of “sociopaths.” Therefore amplifying the urgency for a financial refuge.
“I would love gold and Bitcoin together. I think they probably take on a larger percentage of your portfolio than historically they would because we’re going to go through both a challenging political time here in the United States, and we’re going to go through – we’ve obviously got a geopolitical situation,” Jones said.
Read more: PayPal Refuses to Service Palestinians: Is Bitcoin the Solution?
The billionaire’s faith in Bitcoin, alongside gold, emerges from a blend of mathematical certainty and historical resilience. “I like Bitcoin and I like gold right here,” expressed Jones. He advocated a beefed-up allocation of these assets in investment portfolios.
He further opined that a hawkish stance by the Federal Reserve on interest rates could usher the American economy into the cold arms of recession.
“More likely than not we’re going to go into a recession. There are some pretty clear-cut recession trades. The easiest are the yield curve gets really steep, term premium goes into the backends of debt markets, right, into 30-year, and 10-year, and 7-year paper,” Jones added.
This potential economic downturn fits the long-standing narrative among Bitcoin enthusiasts. They venerate the digital asset as a hedge amidst fiscal storms.
Read more: Analysts Forecast Increased Volatility in Markets Due to Israel-Palestine War
The dialogue around Bitcoin’s merit as a safe haven asset is not new. Yet, endorsements from financial moguls like Paul Tudor Jones fortify its standing in an investment environment quaking under the Israel-Gaza War.
Jones’ voice joins a chorus of Bitcoin bulls, who see beyond the immediate tumult, envisioning it in the face of earthly conflicts.
The post Why the Israel-Gaza War Makes Bitcoin a Good Bet appeared first on BeInCrypto.
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