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Billionaire Jeff Gundlach Discusses When to Buy Crypto — Warns of Deflation Risk

Billionaire Jeff Gundlach Discusses When to Buy Crypto — Warns of Deflation Risk

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Billionaire Jeffrey Gundlach, aka the Bond King, has shared his views on buying cryptocurrencies. “You need a real Fed pivot,” he insisted. Gundlach also warned of a growing risk of deflation, noting that it’s time to be bearish on the stock market.

Jeffrey Gundlach discusses the Fed rate hike, the US economy and when to buy crypto

Jeffrey Gundlach, founder and CEO of investment management firm Doubleline, shared his views on the US economy, the stock and bond markets, and when to buy crypto this week. Headquartered in Tampa, Florida, Doubleline has more than $107 billion in assets under management (AUM) as of June 30.

In an interview with CNBC on the sidelines of the Future Proof conference on Tuesday, the billionaire explained that it’s too early to jump on the crypto bandwagon as the Federal Reserve is likely to raise interest rates further.

Gundlach commented on whether it is a good time to buy cryptocurrencies in the current market situation:

I certainly wouldn’t be a buyer today.

Gundlach is sometimes referred to as the Bond King after appearing on the cover of Barron’s in 2011 as “The New Bond King”. He was named “Money Manager of the Year” by Institutional Investor in 2013 and ranked among the Fifty Most Influential by Bloomberg Markets in 2012, 2015 and 2016. He was inducted into the FIASI Fixed Income Hall of Fame in 2017. His net. the value is currently around 2.2 billion.

In an interview on Tuesday, the billionaire emphasized that the time to return to the crypto space would be when the Federal Reserve reverses interest rate hikes and begins its “free money” policy. Gundlach highlighted the Federal Reserve’s hawkish stance and fears of a recession:

I think you buy crypto when they make free money again… You need a real Fed pivot.

He added that investors should not buy crypto products when they are only “dreaming” of a reversal in monetary policy.

Doubleline’s CEO also warned of the growing risk of deflation, seeing it as a key threat to the US economy and markets. He explained that it’s time for investors to bear down on U.S. stocks, noting that the S&P 500 could drop 20 percent by mid-October.

“The performance of the credit market is consistent with the weakness of the economy and the problems of the stock market,” Gundlach described and elaborated:

I think you need to start getting more bearish.

Although he admitted that stock picking is not his forte, he said: “You always want to own stocks, but I’m a bit on the lighter side.” Nevertheless, he sees emerging markets as the biggest future opportunity for equity investors.

Citing the risk of deflation, he suggested investors dive into long-term US Treasuries. “Buy long-term Treasuries,” he advised, emphasizing:

The risk of deflation is much higher today than in the last two years.

He clarified the schedule: “I’m not talking about next month. I will speak sometime later next year, certainly in 2023.

Recently, Tesla CEO Elon Musk also warned that a significant rate hike by the central bank could lead to deflation, echoing the statement of Ark Invest CEO Cathie Wood that “Leading inflation indicators such as gold and copper point to the risk of deflation.”

What do you think of billionaire Jeff Gundlach’s comments about deflation and buying crypto? Let us know in the comments section below.

Source: Bitcoin.com



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