Billionaire Paul Tudor Jones now prefers crypto to gold as an inflation hedge blockblog – .

Billionaire Paul Tudor Jones now prefers crypto to gold as an inflation hedge blockblog – .

Billionaire hedge fund manager Paul Tudor Jones says bitcoin is currently “winning the race against gold.” He added that cryptocurrency is his preferred inflation hedge over gold.

Paul Tudor Jones prefers Bitcoin to gold

Paul Tudor Jones, the founder of asset management firm Tudor Investment Corp., said bitcoin was his preferred hedge against inflation in an interview with CNBC on Wednesday. He said:

Obviously, there is a place for crypto. Clearly it’s winning the race against gold right now… That would be my favorite at gold right now.

“I have single-digit crypto in my wallet,” he continued. “I think we are entering an increasingly digital world. “

Jones said he was worried about rising inflation, noting that it posed a major threat to U.S. financial markets and the recovery of the economy affected by Covid.

The price of bitcoin broke all-time highs on Wednesday after the first bitcoin exchange-traded fund (ETF) in the United States began trading on the NYSE. Gold has lost 8% in the past 12 months while bitcoin has gained 437%.

The billionaire investor has been asked to comment on his investment in a bitcoin ETF as a way to gain exposure to cryptocurrency. Admitting that he is not “a true ETF expert,” Jones said:

I think a better way to get in would be to own the physical bitcoin, take the time to learn how to own it… I think the ETF would be nice. I think the fact that it is SEC approved should give you a lot of comfort.

He was also asked if approval of an ETF means regulators say crypto is here to stay. Jones replied:

I think crypto is here to stay.

He went on to explain why the United States is “the most important economic power in the world is because we unleash our individual entrepreneurship and creativity.”

In contrast, he said, “China is doing the exact opposite. This place is on an economically slow boat to the South Pole.

The billionaire fund manager has previously said bitcoin is a store of wealth, like gold. He started recommending BTC for wallets early last year. In October 2020, he said he saw a massive rise in bitcoin and compared investing in cryptocurrency to investing in early Apple or Google.

What do you think of Paul Tudor Jones’ comments on bitcoin and gold? Let us know in the comments section below.

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