Hedge fund billionaire Paul Tudor Jones says that crypto is currently his preferred way of hedging against inflation.
In a new interview with CNBC, Jones says that crypto has acted as a great hedge as of late and is winning the race against gold.
“Crypto has been a great hedge… I said then, I said now, I’ve got crypto in single digits in my portfolio. I have a small trading position in our fund. I do think we’re moving into an increasingly digitized 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.”
The billionaire, who heads investment management firm Tudor Investment Corporation, says that while the new Bitcoin futures exchange-traded fund (ETF) is a regulated and legitimate product, he thinks a better investment is to own physical BTC.
“I think a better way to get in would be to actually own physical Bitcoin, to take the time to learn how to own it and carry it. I think the ETF will be fine. I think the fact that it’s SEC approved should give you great comfort.”
The investor says that embracing Bitcoin is part of the American character and that China’s refusal to do so may have economic consequences for the country in the future.
“I think crypto is here to stay. Look, this is the United States of America right? The reason we’re the most dominant economic power [in] the world is because we unleash our individual entrepreneurialism and creativity. And you’re seeing China do the exact opposite. That place is on, economically, a slow boat to the South Pole. As long as the US can continue to unchain our entrepreneurs, we’re going to always be in the dominant position.”
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