Billionaire investor Paul Tudor Jones has highlighted Bitcoin as a good bet for investors during times of geopolitical instability. Meanwhile, Glassnode reports long-term investors are accumulating bitcoin at a rate of $1.35 billion per month.
In an interview with CNBC, Paul Tudor Jones highlighted the growing geopolitical tensions — including conflicts between Israel and Gaza, Russia’s aggression in Ukraine, and strained U.S.-China relations — as factors making traditional stock investments riskier. Compounding the instability, Jones noted that the United States may be in its weakest fiscal position since World War II. These remarks come at a time of rising concerns that the Federal Reserve’s aggressive interest rate hikes could plunge the American economy into a recession.
While Jones remains skeptical about U.S. stocks, he is decidedly bullish on Bitcoin and gold. According to him, these assets can be a safe haven in uncertain times.
At the same time, Glassnode’s most recent weekly report shows that long-term investors continue accumulating Bitcoin briskly. The HODLer net position change metric reveals that these investors, or wallets that have held coins for at least 155 days, are accumulating around 50,000 BTC ($1.35 billion) each month.
The report also highlighted that the total number of BTC held by long-term investors has reached an all-time high of over 14.859 million BTC, which accounts for 76% of its circulating supply.
This accumulation trend suggests both a tightening supply and a general reluctance to transact. Coins are staying dormant for longer periods, contributing to market illiquidity and indicating a relative weakness of supply-side pressure in the market. In simpler terms, this could set the stage for a significant price rally for Bitcoin.