Paul Tudor Jones, a well-known hedge fund manager and billionaire, has dramatically boosted his investment in one of the exchange-traded funds (ETFs) that is now among the most sought-after on the market.
The most recent documents that Jones has submitted to the United States Securities and Exchange Commission (SEC) reveal that he has roughly increased the amount of Bitcoin ETF holdings that he owns. The number of shares owned by his company, Tudor Investment Corporation, has increased to over 8 million, from about 4.4 million in the past.
Over the last two quarters, the company has made significant acquisitions, which has resulted in the overall investment in BlackRock’s iShares Bitcoin Trust (IBIT) reaching around $445 million.
For a considerable amount of time, Jones has been open about his support for Bitcoin. In the past, he has highlighted Bitcoin as a defense against inflation and the mishandling of fiscal policies inside the government.
As a result of his belief that inflation is unavoidable and that commodities continue to be grossly underrepresented in investment portfolios, he has voiced optimism in assets such as gold and Bitcoin.
According to the most recent information, the IBIT fund managed by BlackRock now has a total worth of $56.86 billion and is currently holding 583,122 Bitcoin on behalf of its investors.
