Billionaire hedge fund supervisor Paul Tudor Jones is pouring a whole bunch of tens of millions of {dollars} into one of many hottest ETFs in the marketplace.
New SEC filings present Jones has practically doubled his fund’s stake in BlackRock’s Bitcoin ETF, from 4,428,230 shares to eight,048,552 shares.
After the massive buys, Tudor Funding Company is now holding about $445 million of the BlackRock iShares Bitcoin Belief (IBIT).
Late final 12 months, Jones touted Bitcoin as a hedge towards inflation and poor fiscal administration from the federal government.
“I feel all roads result in inflation. I’m lengthy gold, I’m lengthy Bitcoin, I feel commodities are so ridiculously under-owned.”
The BlackRock iShares Bitcoin Belief (IBIT) at present manages 583,122 BTC on behalf of its purchasers, valued at $56.86 billion at time of publishing.
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