Renowned investor and billionaire hedge fund manager, Paul Tudor Jones (Trades, Portfolio), has significantly increased his investment in financial instruments tied to Bitcoin, showcasing his continued confidence in the cryptocurrency's potential. According to a filing with the U.S. Securities and Exchange Commission (SEC), as of September 30, Tudor Investment Corp. held BlackRock's iShares Bitcoin Trust (IBIT, Financial) shares valued at $159.9 million.
This marks a 400% increase from the 869,565 shares held as of June 30, bringing the total number of IBIT shares to 4,428,230. Currently, Bitcoin is the third-largest non-option position in Tudor's portfolio, following the SPDR S&P 500 ETF Trust, valued at $208 million, and Nvidia (NVDA), valued at $166 million. However, analysts from MacroScope suggest that Bitcoin might have surpassed these positions since the end of September, potentially becoming Tudor's largest reportable non-option position.
MacroScope also highlights the significance of Tudor's investment decisions, noting that hedge funds and asset managers closely monitor his actions due to his successful market timing strategies. His latest move aligns with a broader trend where institutional investors increasingly recognize Bitcoin as a viable and important component of a diversified portfolio.
Paul Tudor Jones (Trades, Portfolio) has been a long-time advocate for Bitcoin. In May 2023, he emphasized Bitcoin's fixed supply as a unique attribute, stating, "It's the only thing humans can't adjust the supply of, so I hold it firmly."
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