Paul Tudor Jones Increases Bitcoin ETF Holdings Amid Inflation Concerns

Billionaire investor Paul Tudor Jones believes inflation is here to stay. He shared this view in a recent interview, which is part of why he has been a strong supporter of Bitcoin.

Tudor Jones is backing his beliefs with action. His hedge fund has significantly increased its investment in Bitcoin through the largest Bitcoin ETF in the United States.

A new 13F filing with the Securities and Exchange Commission (SEC) shows that Tudor Investment Corporation held over 4.4 million shares in BlackRock’s iShares Bitcoin Trust ETF as of September 30. At that time, this investment was valued at around $160 million. Now, it’s worth about $230 million based on current prices.

Back in June, the hedge fund owned just 869,565 shares of the ETF, which trades under the ticker IBIT. BlackRock, the world’s largest asset manager, allows traditional investors to gain exposure to Bitcoin through its iShares Bitcoin Trust ETF.

An ETF is a popular investment tool. It lets people buy shares that track an underlying asset, which can be anything from currencies and gold to U.S. stocks or copper.

In January, the SEC approved Bitcoin ETFs for trading on stock exchanges. This opened the door for a new class of crypto investors. BlackRock’s ETF has seen the biggest inflows and trading activity.

Jones has talked about Bitcoin for years. Earlier this month, he mentioned that he sees Bitcoin as a good investment due to rising U.S. federal debt. He also indicated that he favors gold and commodities in his portfolio lately.

“I think all roads lead to inflation,” he said in a CNBC interview. “I’m long gold, I’m long Bitcoin. I think commodities are so ridiculously underowned—so I’m long commodities.”