The post Paul Tudor Jones Grows Bitcoin Portfolio by 400% to $159.9M appeared on BitcoinEthereumNews.com.

Billionaire investor Paul Tudor Jones has dramatically increased his stake in Bitcoin-related financial instruments. According to a November 14 filing with the Securities and Exchange Commission (SEC), the 70-year-old owned $159.9 million worth of BlackRock’s IBIT shares as of September 30 through his company, Tudor Investment Group. It marked a staggering 400% rise from the 869,565 shares the company stated in its Q2 submission on June 30. Bitcoin’s Prominent Role in Tudor’s Portfolio Tudor’s latest 13F filing revealed that the billionaire now holds 4,428,230 IBIT shares, which, according to industry analysts MacroScope, positioned BTC as the third-largest non-options holding in his expansive portfolio. With a net worth estimated at $8.1 billion, the 70-year-old’s investment interests include allotments in SPDR S&P 500 ETF Trust (SPY), valued at $208 million, and $166 million in Nvidia (NVDA) shares. However, given Tudor’s sharp rise in Bitcoin apportionment, MacroScope suggests that the cryptocurrency could now be the “largest reportable non-options position” in its portfolio, surpassing even the SPY and NVDA allocations. The uptick also coincided with BTC’s relatively stable trading period over the summer months. The analysts noted that during that particular range-bound trading phase, major market players were actively buying into Bitcoin, and there was every probability that Tudor was one of them. MacroScope also emphasized the filing’s importance, pointing out that hedge funds and asset managers usually closely monitor Jones’ investment moves due to his track record of timely and strategic market decisions. His firm’s addition of $159.9 million worth of BTC-related shares reinforces a growing trend of respected investors embracing the number one cryptocurrency as a viable part of their diversified portfolio. Recently, CryptoPotato reported that Wall Street giant Goldman Sachs had increased its digital asset position to more than $700 million, invested in various spot Bitcoin ETFs. Long-Time Bitcoin Bull Jones…

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Filed under: News - @ November 18, 2024 8:24 pm