The ‘Bond King’ Jeffrey Gundlach calls Bitcoin an inflation hedge

The head of DoubleLine Capital, Jeffrey Gundlach, recommended Bitcoin and gold as assets capable of protecting capital from depreciation due to a weakening dollar. The well-known cryptocurrency skeptic expressed his view in the Rosenberg Research webcast Rosenberg Research.

In 2017 Gundlach noted that he was not prepared to participate in the Bitcoin mania. In October of that year, in an interview with Business Insider he called the first cryptocurrency a ‘lie’, while again doubting that ‘it’s unhackable’.

“I don’t believe in Bitcoin. I think it’s well tracked. I don’t think it’s anonymous,” he said.

Back then, Gundlach stressed that he did not count himself among Bitcoin’s critics.

In the Rosenberg Research webcast he urged listeners to hedge inflation risks by adding gold and Bitcoin to their investment portfolios.

DoubleLine Capital manages about $141 billion in assets.

Last week the ‘Bond King’ said that Donald Trump had a high chance of reelection as US president.

FTX-traded futures and prediction markets predict a Biden victory in the US presidential election on November 3.

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