While it continues to be discussed whether the tension between Israel and Hamas will have an impact on Bitcoin, Paul Tudor Jones, who manages a multi-billion dollar hedge fund, made important statements about BTC.
Participating in CNBC's Squawk Box program, Paul Tudor Jones said that he turned to BTC and gold due to geopolitical conflicts and the increasing possibility of a recession in the USA.
Stating that stocks may experience a sharp correction due to the economic difficulties in the USA, the famous name stated that he preferred BTC and gold.
“Due to the FED's hawkish attitude and interest rate increases, it seems likely that there will be a recession in the first quarter of next year.
As the recession approaches, investors will likely pour at least $40 billion into gold. I also think that Bitcoin will be included in investors' portfolios along with gold.
At this point, I would also like to have gold and Bitcoin together in my portfolio.
In the event of a recession, gold and BTC will likely make up a larger percentage of your portfolio than they have historically.
Because we will go through both a difficult political period and a difficult economic period in the USA.
It may also be the most challenging geopolitical environment I have ever seen. At this point, the United States finds itself in arguably its weakest fiscal position since World War II. That's why it's so difficult to invest in US stocks right now. “
Bitcoin is trading at $27,313 at the time of writing.
*This is not investment advice.