• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home highlights

Gold is losing ground to bitcoin in inflation hedge race

4 years ago
in highlights, Home, home-news, latest News, Markets
2 min read
0 0
0
109
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Gold is losing ground to bitcoin in inflation hedge race

In an interview with CNBC on Wednesday, billionaire hedge fund manager, Paul Tudor Jones said bitcoin is beating gold.

Jones, whose firm controls close to $40 billion in assets under management, was reminded by host, Andrew Ross Sorkin that during his last appearance on the show, back in June, he had called bitcoin a hedge against inflation.

Continuing on from his earlier remarks, Tudor Jones responded, “Bitcoin would be a great hedge.”

“Crypto would be an excellent inflation hedge,” he added.

Therefore, the question remains: “At these prices, does bitcoin still represent a hedge?”

“My portfolio has crypto in the single digits. My fund has a small position in crypto. Increasingly, we are living in a digitized world,” said Jones. “Crypto has a place, and at this point, it is winning the race against gold. Inflation is one of its main benefits. At the moment, it is better than gold.”

RelatedPosts

Government Orders Flags at Half-Mast as Nation Mourns Defence, Environment Ministers & Others in Helicopter Crash

Defence Minister and Environment Minister Among 8 Confirmed Dead in Military Helicopter Crash

Serie A Players Face 25% Pay Cut if Relegated Under New Agreement

Inflation fears have renewed investors’ interest in assets that can act as hedges – including bitcoin. The price of gold has not responded to rising cost pressures in recent weeks, and the move away from gold ETFs onto bitcoin funds seems to be gathering momentum. Despite the shift in flows, market strategists believe bitcoin will remain bullish throughout the year.

Read This: Economic recovery stimulates demand for Qatar Airways’ Doha-Accra flights

Bloomberg’s data shows that the $56 billion SPDR Gold Shares ETF, ticker GLD, is set to lose another $3.6 billion in outflows over the next month, marking its fourth straight month of outflows.

Last time Jones and Sorkin squared off on Squawk Box, the billionaire recommended that investors take a 5% position in bitcoin, describing it as a portfolio diversifier.

The Tudor Investment Corporation’s CIO used to describe his position as a “defensive position for myself and my family, that I don’t even look at anymore.”

But he tempered his enthusiasm by adding his concerns about bitcoin mining’s carbon footprint.

Jones is one of many executives at large investment companies who are now encouraging clients to diversify their portfolios with crypto.

Back in January, Guggenheim CIO Scott Minerd, whose firm stewards $325 billion, gave bitcoin a $400,000 price projection and admitted that some of Guggenheim’s private funds had already bought it.

BlackRock’s CIO, Rick Rieder, said early in the year that the company was “starting to dabble” into bitcoin. BlackRock controls over $9 trillion in assets as of June, this year.

An SEC filing revealed BlackRock had invested in two U.S.-based bitcoin mining firms by the end of summer.

A new all-time high was reached of $66,812 by the pioneer crypto on Wednesday. This record comes in the wake of ProShares launching a bitcoin futures ETF on Tuesday.

Source: nairametrics
Via: norvanreports
Tags: BitcoinGoldGold is losing ground to bitcoin in inflation hedge raceUS SEC
No Result
View All Result

Highlights

Osaka and Keys Advance to Quarter-Finals at Canadian Open

Ghana Armed Forces Helicopter Crashes in Adansi Akrofuom, 8 Feared Dead 

Cedi Appreciation Triggers 50% Drop in Remittance Inflows

Inflation Drops 160 basis points to 12.1% in July, Lowest Rate Since October 2021

Kwaku Azar Writes: Is Another SML Brewing at GACL?

GRA Refutes NIA’s Debt Claims, Cites Lack of Regulatory Approval and Service Agreement

Trending

Features

Government Orders Flags at Half-Mast as Nation Mourns Defence, Environment Ministers & Others in Helicopter Crash

August 6, 2025

Government Orders Flags at Half-Mast as Nation Mourns Defence, Environment Ministers & Others in Helicopter Crash Ghana...

Defence Minister and Environment Minister Among 8 Confirmed Dead in Military Helicopter Crash

August 6, 2025

Serie A Players Face 25% Pay Cut if Relegated Under New Agreement

August 6, 2025

Osaka and Keys Advance to Quarter-Finals at Canadian Open

August 6, 2025

Ghana Armed Forces Helicopter Crashes in Adansi Akrofuom, 8 Feared Dead 

August 6, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.