Investing Legend Paul Tudor Jones Increases Bitcoin Holdings
Tudor's 13F filing reported $159.9 million in BlackRock's IBIT shares, up from 869,565 shares in Q2.
Hedge fund billionaire Paul Tudor Jones has significantly increased his investment in Bitcoin- related financial instruments , continuing to show his belief in the long-term potential of the asset class.
Outstanding investment
Tudor Investment Group increased its holdings in BlackRock's iShares Bitcoin Trust to $159.9 million as of September 30 , up 400% from the previous quarter, according to a November 14 filing with the U.S. Securities and Exchange Commission (SEC).
Total shares outstanding now stand at 4.4 million , up from 869,565 shares at the end of June.
With this growth, Bitcoin became the third largest investment in Jones' portfolio, behind only the SPDR S&P 500 ETF Trust ( $208 million ) and Nvidia ( $166 million ). Analysts even suggested that Bitcoin may have risen to the top spot thanks to the strong accumulation of the market over the summer.
Positive signal for the market
Jones has long been a Bitcoin advocate, noting in May 2023 that Bitcoin’s fixed supply is the “single most unique feature” that keeps him bullish on the asset.
By October 2024 , he called Bitcoin, gold, and commodities “irrationally undervalued” assets .
This major investment move could inspire other hedge funds and financial institutions, helping to push Bitcoin further into mainstream finance.
Institutional investment boom
Not only Jones, large organizations like Goldman Sachs are also increasing their presence in the cryptocurrency market.
Goldman recently expanded its digital asset portfolio to more than $700 million , focusing on spot Bitcoin ETFs and blockchain products.
This is a testament to the growing acceptance of Bitcoin from leading financial institutions.
The future is coming
The news comes ahead of the November 19 Future of Digital Assets event , where experts will discuss Bitcoin’s role in institutional portfolios, regulatory issues, and the growth prospects of the cryptocurrency market.
With moves from major financial institutions, Bitcoin is gradually asserting its position in the global financial system.