Paul Tudor Jones, a billionaire investor, and philanthropist who has previously been a strong supporter of Bitcoin have declared that the popular crypto-asset is his preferred inflation hedge over gold. Bitcoin is now “winning the race against gold,” according to the founder of hedge fund Tudor Investment Corp. in an interview. Jones alluded to inflation as “the number one concern confronting investors,” and stated that crypto has a definite place in investment portfolios.
Jones went on to say that in his own portfolio, he had a single-digit percentage exposure of cryptocurrencies.
“I believe we are headed toward a more digitised world. Clearly, cryptocurrency has a place, and it is now outperforming gold in the race. So, sure, I believe it would be an excellent inflation hedge. At the moment, it would be my favourite option over gold “Tudor stated in a CNBC interview.
Jones had started in a May interview that, in light of the epidemic, Bitcoin was his preferred inflation hedge. His current statements reaffirm what he said earlier this year. The investor went on to add that China’s move to impose a blanket ban on cryptocurrency trading might have long-term economic ramifications for the country.
Jones wasn’t done yet. He also commented on the ProShares Bitcoin Futures ETF’s recent debut, claiming that while the new Bitcoin futures exchange-traded fund (ETF) is a regulated and respectable product, he believes that owning Bitcoin is a superior investment. He does, however, agree that the US Securities and Exchange Commission’s (SEC) decision to authorize Bitcoin Futures-linked ETFs would provide much-needed comfort to crypto enthusiasts.