Renowned hedge fund manager and billionaire, Paul Tudor Jones, on Tuesday expressed his concerns regarding the current geopolitical landscape and rising levels of U.S. government debt.
What Happened: In an interview with CNBC's Squawk Box, Jones emphasized his reservations about stocks while highlighting the attractiveness of Bitcoin (CRYPTO: BTC) and gold as alternative investment options.
This comes as Israel has declared war on Hamas after the group launched a devastating surprise attack from Gaza.
He said, "It's a really challenging time to want to be an equity investor and in U.S. stocks right now," adding that "I can't love stocks," he said, "but I love bitcoin and gold."
Considering the ongoing geopolitical risks, Jones described the current environment as potentially the "most threatening" he has ever witnessed. "We've got the Middle East and Israel, obviously, Ukraine and Russia and then at some point down the road, Taiwan and China," the investor said.
Will The SEC Finally Approve Long-Awaited Bitcoin Spot ETF? Ask industry experts directly at Benzinga's Future of Digital Assets event happening in NYC on Nov. 14, 2023. Be a part of the discussions where you won't just be a passive spectator. Don't let this chance slip away – secure early bird discounted tickets now!
Why It Matters: Earlier in May, in an interview on CNBC's "Squawk Box," he disclosed that he has been a steadfast Bitcoin investor since 2020, viewing it as a safeguard against inflation.
"I've always advocated for a minor portion of one's portfolio to be allocated to it. Its supply is the only thing that can't be manipulated by human intervention," he added.
Price Action: At the time of writing, BTC was trading at $27,136, down $1.68 in the last 24 hours, according to Benzinga Pro.
Photo Courtesy Ted Conference On Flickr