It's not often that we see two very similar market sector bulls predict HUGE moves in two asset classes virtually simultaneously, and for basically the same reasons.
Both Paul Tudor Jones (Tudor Investment Corp) and Anthony "Pomp" Pompliano (Morgan Creek Digital) are predicting huge bullish moves for gold and bitcoin. Mr. Jones is looking for gold to reach $1,700 in the next year or two for a myriad of economic reasons and a shifting in the global economic landscape. "Pomp" feels Bitcoin is almost ready to experience a "perfect storm" that will send Bitcoin soaring over the next 18 months.
Note that Mr. P doesn't have a price target because in the case of Bitcoin "UP" could be............well, anywhere (pick a price; $50K, $100K, etc). These two highly acclaimed investors (I say that because I have the exact same views and have been predicting that for years and it makes me look smart) are not alone obviously. Other gold bulls are looking for $3K-$5K and Bitcoin bulls up to $1M. BUT, the real news is that traditional gold investing is also being spoken in the same breath as digital assets. If you aren't sure, buy both.....perfect hedge.
Read their comments below.
Bill Taylor/ Fintek Capital
"(Kitco News) - Another billionaire investor is sounding the alarm for the U.S. and global economies and is looking at gold as the safe-haven play.Paul Tudor Jones, fund manager and create of Tudor Investment Corp.
In an interview with Bloomberg News, Paul Tudor Jones, fund manager and create of Tudor Investment Corp., said that his favorite trade in the next 12 to 24 months is gold. He added that if the price can break through $1,400 it will push to $1,700 an ounce "rather quickly."
“[Gold] has everything going for it,” he said.
"Speaking to Bloxlive TV earlier in June, Pompliano said the next 18 months will be crucial for Bitcoin. The Morgan Creek Digital co-founder believes the plethora of developments with potentially global economic impacts will contribute to upscaling Bitcoin’s role in the global financial system...
...There are reports of adopting rate cuts or even zero-interest-rate policy (ZIRP), not to mention the seemingly permanent quantitative easing used to paper over the cracks of a deteriorating market.
Bitcoin emerged after the 2008 financial crisis and the next year-and-a-half could potentially form its defining crucible. This ‘digital gold’ is already providing a suitable shelter for investors against the coming financial storm. Ironically, it is the banks themselves that could further solidify its status as the prime driver in the separation of money and state..."
Full Story at Bitcoinist