Billionaire Jeff Gundlach expects recession this year, advises against the purchase of Bitcoin - markets and prices

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Jeffrey Gundlach, CEO of Doubleline Capital, also known as "Bond King", warned of "a recession in the later part of this year". He also advised to buy Bitcoin at the current level. "Maybe you should buy it for $ 25,000," he said.

billionaire 'Bond King' Jeff Gundlach on recession, Bitcoin and the Fed interest rate increase

The billion -dollar fund manager Jeff Gundlach warned in an interview with Yahoo Finance published on Saturday of a recession towards the end of this year. He also commented on whether investors should buy Bitcoin.

Gundlach is CEO from Doubleline Capital, which has an administrative assets of over $ 137 billion (AUM). He is sometimes referred to as "Bond King" after appearing on the cover of Barrons as "The New Bond King" in 2011. Institutional investor appointed him “Money Manager of the Year” in 2013 and Bloomberg Markets in 2012, 2015 and 2016 one of the “Fifty Most Influential”. According to Forbes, its net assets are currently $ 2.2 billion.

He was asked if there will be a recession in 2023. "I think the pension market already shows enough recession indicators that it will appear quite likely by 2023," replied Gundlach.

"I do not think that many of the Fed officials, economists and investors appreciate the fact that the economy buckles in ever lower interest rates, so I think that the Fed only has to increase interest rates four times, and they will start to see an abundance of recession signals," he warned and added:

It is certainly a probability of unequal zero that you will experience a recession in the later part of 2022.

On Monday, Jamie Dimon, CEO of JPMorgan, said that the Federal Reserve may have to raise the short -term interest rates more than four times this year. "Inflation may be worse than people think. I personally would be surprised if it were only four increases this year," said the JPMorgan boss.

At the beginning of this month, a financial professor at the Wharton School of the University of Pennsylvania warned about inflation and forecast so that interest " is expected as the market ”.

In terms of Bitcoin, Gundlach emphasized that cryptocurrency was "for speculators". Quote the last btc prices, he said:

At the moment I would advise against Bitcoin ... maybe you should buy it for $ 25,000.

The Doubleline CEO found that he had never obsessed Bitcoin, and admitted: "It's just not in my DNA."

He stated: “Bonds go to my culture of cowardice. I am not a momentum investor at all, and in fact I am a kind of anti-moment investor, and I think Bitcoin is only for momentum investors.

What do you think of Jeff Gundlach's comments? Let us know in the comment area below.

Kevin Helms

Kevin, a student of Austrian economics, found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open source systems, network effects and the interface between economy and cryptography.

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