Paul Tudor Jones doubles down on BTC as recession looms

Amid Israel-Hamas conflict and the US’s weak fiscal position, bitcoin and gold “probably take on a larger percentage of your portfolio”

article-image

Roman Bodnarchuk/Shutterstock modified by Blockworks

share

Hedge fund manager Paul Tudor Jones continues to tout bitcoin amid a macro backdrop that he said makes it difficult to invest in equities. 

The US is likely to slip into a recession in the first quarter of 2024, the billionaire told CNBC in an interview Tuesday.

“I would love gold and bitcoin together,” Tudor Jones said. “I think they probably take on a larger percentage of your portfolio than they would [historically] because we’re going to go through both a challenging political time here in the United States and we’ve obviously got a geopolitical situation.”

The comments come amid what Tudor Jones said “might be the most threatening and challenging geopolitical environment that [he’s] ever seen.” He added that the US is “probably in its weakest fiscal position since World War II.”

The Israeli government declared war against militant group Hamas over the weekend after Hamas attacked Israel. Israeli forces retaliated by increasing airstrikes over the Gaza Strip as the death toll of Israelis and Palestinians stood at roughly 1,600 early Tuesday. 

It is the latest chapter in a decades-long conflict and follows the ongoing expansion of Israeli settlements in occupied Palestinian territories — which UN delegates have said violates international law.

The weekend conflict “triggered a wave of safe-haven flows towards bonds, oil and gold,” OANDA senior market analyst Edward Moya said in a Monday research note.

“It’s a really challenging time to want to be an equity investor in US stocks right now,” Tudor Jones said.  

Moya added in a note on Tuesday that a dovish tone by the Federal Reserve caused Treasury yields to drop, resulting in “a great day” for gold.

“The flight-to-safety isn’t over yet, especially considering all the risks to the outlook for the consumer,” Moya wrote.

Tudor Jones doubling down on bitcoin comes after he said in May that he believes in maintaining a small allocation to bitcoin — noting its limited supply that humans can’t tamper with.

“I’m sticking with it,” Tudor Jones said at the time. “I’m always going to stick with it.”Bitcoin’s (BTC) price was at about $27,400 at 2 pm ET on Tuesday — roughly flat over the past seven days. The asset is up about 65% year to date.


Get the news in your inbox. Explore Blockworks newsletters:

  • Blockworks Daily: The newsletter that helps thousands of investors understand crypto and the markets, by Byron Gilliam.
  • Empire: Start your morning with the top news and analysis to inform your day in crypto.
  • Forward Guidance: Reporting and analysis on the growing intersection of crypto and macroeconomics, policy and finance.
  • 0xResearch: Alpha directly in your inbox. Market highlights, data, degen trade ideas, governance updates, token performance and more.
  • Lightspeed: Built for Solana investors, developers and community members. The latest from one of crypto’s hottest networks.
  • The Drop: For crypto collectors and traders, covering apps, games, memes and more.
  • Supply Shock: Tracking Bitcoin’s rise from internet plaything worth less than a penny to global phenomenon disrupting money as we know it.
Tags

Upcoming Events

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research

article-image

The platform also rolled out 13 tokenized funds for institutions on the Connect platform

article-image

The company’s expanded lineup introduces new ETF products, as more and more issuers get into crypto funds

article-image

President Donald Trump announced a 10% levy on almost all goods and additional tariffs on so-called “worst offending” countries

article-image

Solana may be in “recomposition” mode, as new protocols put usefulness ahead of mere virality

article-image

The stablecoin issuer will have to contend with bigger players and the interest rates environment

article-image

The president reportedly was still working on his tariff policy plans late Tuesday evening