Billionaire investor and philanthropist Paul Tudor Jones, who has been a vocal bitcoin supporter in the past, has said that his preferred inflation hedge over the popular crypto-asset is gold. The founder of hedge fund Tudor Investment Corp noted in an interview that bitcoin is currently “winning the race against gold.” Jones referred to inflation as “the number one issue facing investors” and added that there was clearly a place for crypto in investor portfolios. Jones also said that he has a single-digit percentage allocation of cryptocurrencies in his personal portfolio.
“I think we’re moving into an increasingly digitized world. Clearly, there’s a place for crypto, and clearly, it is winning the race against gold at the moment. So yeah, I think that would be a pretty good inflation hedge as well. This will be my favorite at sleeping in at the moment,” Tudor said in a interview with CNBC.
Back in May, in another interview, Jones said that Bitcoin His favorite inflation hedge in light of the pandemic was. His recent comments confirm that he stands by what he said earlier in the year. The investor also said that China’s decision to completely ban crypto-trading could have economic consequences for the country in the future.
Jones did not stop here. He also offered some thoughts on the recent launch of the ProShares Bitcoin Futures ETF, stating that the new bitcoin futures exchange traded fund (ETF) is a regulated and legitimate product, they think owning bitcoin is a better investment. That said, he acknowledges the fact that the US Securities and Exchange Commission (SEC)’s decision to approve ETFs linked to bitcoin futures will bring great relief to believers in the crypto-verse.