Billionaire Jeffrey Gundlach, who came to the fore with his comments against Bitcoin and made a name for himself, took a different attitude in his latest statement. DoubleLine Capital LP CEO Gundlach admitted that Bitcoin is an important tool against inflation.
Speaking at the Rosenberg Research web conference, Gundlach thinks that both Bitcoin and gold are assets that can protect investors against the inflation monster. In fact, not only the famous billionaire, but many experts have stated that Bitcoin and gold have similar characteristics in this regard. Paul Tudor Jones, one of the legendary names of Wall Street, also fired a riot by stating that he bought BTC for this in 2020.
.@DLineCap CEO Jeffrey Gundlach on Rosenberg Research webinar now: I think the election is going to go to Donald Trump again. Says he has ‘Far less conviction than I did in 2016… I also think whoever loses is going to throw a fit.’
— Julia La Roche (@JuliaLaRoche) November 2, 2020
Gundlach, who previously criticized BTC, now thinks that it is possible to protect against inflation by investing in Bitcoin as well as gold investment. Still, the American investor stating that he “still does not like” the world’s first and largest cryptocurrency may change his mind soon.
$ 15,000 Bitcoin Price Prediction Successful
Gundlach actually has an interesting attitude. Although the famous billionaire did not like BTC, he stated at the beginning of the year that it could increase to $ 15,000 by the end of 2020. Gundlach was right in his prediction, and BTC rose as high as $ 14,100 on October 31st. Although Gundlach is so closely related to the industry, he does not like BTC and implies that he will not actually invest. However, this industry has seen many changes like this before.
Michael Saylor, who previously made hostile statements against Bitcoin, is one of the biggest proofs of this possible change. A few years after Saylor stated that Bitcoin was a bubble, he invested heavily in BTC both personally and through his company.