Get ready for some electrifying news from the land of Bitcoin! The legendary hedge fund manager, Paul Tudor Jones, has made waves by supercharging his Bitcoin investments. When this guy says he's “going long” on Bitcoin, he means business!
In a jaw-dropping move, Tudor has boosted his stake in Bitcoin-related assets by a whopping 409%. That's right, folks – this billionaire investor is not just dipping his toes but diving headfirst into the crypto pool.
A recent filing with the SEC revealed that Tudor's company, Tudor Investment Group, held a staggering $159.9 million in BlackRock’s IBIT shares as of September 30. That's a mind-blowing jump from the 869,565 shares he reported just a few months earlier in June.
Now, with 4,428,230 IBIT shares in his pocket, Bitcoin has become a shining star in his extensive portfolio. According to the financial wizards at MacroScope, BTC now stands as the third-largest non-options holding for this seasoned investor.
With an estimated net worth of $8.1 billion, Tudor's portfolio isn't just about Bitcoin. He's also got a cool $208 million in SPDR S&P 500 ETF Trust (SPY) and $166 million in Nvidia (NVDA) shares. But with Bitcoin's recent surge in his holdings, it might just be the crown jewel, outshining even his SPY and NVDA investments.
This Bitcoin bonanza happened during a period when BTC was enjoying a relatively calm trading spell over the summer. The experts believe that Tudor was one of the big players stocking up on Bitcoin during this time, and it seems they were spot on.
Tudor's investment moves are like magic spells for hedge funds and asset managers, who closely follow his strategic market decisions. With his latest crypto splurge, he's sending a signal that Bitcoin is a must-have in a diversified portfolio.
And it's not just Tudor who's making headlines with crypto investments. Wall Street heavyweight Goldman Sachs recently upped its digital asset game with over $700 million invested in various Bitcoin ETFs.
But here's the kicker – Tudor is no stranger to Bitcoin. He's been a long-time fan, praising its fixed supply. In May 2023, he confessed that he liked BTC because “it's the only thing humans can’t adjust the supply in.” And just last October, he doubled down on his affection for BTC, calling it “ridiculously under-owned.”
So, could Tudor's bold move be setting the stage for other hedge funds to join the crypto party? A 400% increase in Bitcoin holdings might just be the nudge they need to hop on the Bitcoin bandwagon. Keep your eyes peeled, because this Bitcoin rollercoaster is just getting started!
