Billionaire investor and philanthropist Paul Tudor Jones, who’s been a vocal Bitcoin backer in the past has stated that the popular crypto-asset is his preferred inflation hedge over gold. The founder of hedge fund Tudor Investment Corp. mentioned at an interview that Bitcoin is currently “winning the race against gold.” Jones referred to inflation as “the number one issue facing investors” and in connection said that there was clearly a place for crypto in investor portfolios. Jones also said went on to mention that he has a single-digit percentage allocation of cryptocurrencies in his personal portfolio.
“I do think we’re moving into an increasingly digitised world. Clearly, there’s a place for crypto, and clearly, it’s winning the race against gold at the moment. So yes, I would think that would also be a very good inflation hedge. It would be my preferred one over gold at the moment,” Tudor said in an interview with CNBC.
Back in May, in another interview, Jones had said that Bitcoin was his favourite inflation hedge, in light of the pandemic. His recent comments confirm that he stands by what he’d said earlier in the year. The investor also went on to say that China’s decision to throw a blanket ban on crypto-trading may have economic consequences for the country in the future.
Jones didn’t just stop there. He offered some thoughts on the recent launch of the ProShares Bitcoin Futures ETF too, stating that while the new Bitcoin futures exchange-traded fund (ETF) is a regulated and legitimate product, he thinks a better investment is to own Bitcoin. That said, he does acknowledge the fact that the US Securities and Exchange Commission’s (SEC) decision to approve Bitcoin Futures-linked ETFs will bring great relief to believers in the crypto-verse.
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