The investment firm of Wall Street legend Paul Tudor Jones bought millions of shares of BlackRock’s Bitcoin ETF (IBIT). This concerns Tudor Investment Corp, which had 4.4 million shares of IBIT at the end of Q3 2024.
All roads lead to inflation
The billionaire is clear about the reason for his large investments in Bitcoin: “All roads lead to inflation. I am long on gold, long on Bitcoin and long on commodities.”
By the way, Paul Tudor Jones has been someone who sees Bitcoin as an interesting asset for years. He was also there to praise the digital currency during the previous bull run.
In that respect, he was slightly ahead of the BlackRocks of this world, who also needed the 2022 bear market to see value in the digital currency.
Wall Street now seems to be becoming increasingly comfortable with Bitcoin, as the digital currency is slowly seeping into all the portfolios of the largest asset managers in the world.
The billions are flying over the table
Bitcoin was an asset for the smaller investor for years. Almost a kind of asset that served as a protest against the current financial system. Now this is no longer true, and we see that the great ones are embracing Bitcoin.
MicroStrategy may not be among that group, but their appetite for Bitcoin is starting to take serious shape. It has now collected more than 300,000 Bitcoin, and this week it bought almost 5 billion dollars more.
In this way, Michael Saylor and MicroStrategy could single-handedly push the Bitcoin price to the magical limit of $100,000.
Paul Tudor Jones also seems convinced, because in June his firm still owned 869,565 shares in the BlackRock Bitcoin ETF. This number has now increased to 4.4 million. Those are serious amounts for someone who is also taken very seriously on Wall Street.
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Source: https://newsbit.nl/wall-street-legende-koopt-miljoenen-aandelen-in-bitcoin-etfs/
