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Paul Tudor Jones chooses crypto as his preferred inflation hedge over gold

21 Oct 2021 : 06:55
2 min read
  • Paul Tudor Jones prefers crypto over gold as inflation hedge
  • The hedge fund manager has a single-digit percentage of his portfolio in cryptocurrencies
  • Bitcoin reached a new all-time high above $66k

There has been a long-standing argument between Bitcoin and Gold about the best inflation hedge.

Paul Tudor Jones picks crypto over gold

Billionaire investor Paul Tudor Jones has come out in support of cryptocurrencies over gold as he believes they are a better hedge against inflation. He made this known during an interview with CNBC Squawk Box yesterday.

Tudor Jones stated that “It would be my preferred one over gold at the moment. Clearly, there’s a place for crypto. Clearly, it’s winning the race against gold at the moment.”

The billionaire hedge fund manager said he has crypto single digits in his portfolio when quizzed about the percentage of his holdings in cryptocurrencies. Jones also talked about the rising inflation levels in the United States and other parts of the world, adding that it is a cause of concern.

The ProShares Bitcoin ETF recently started trading on the stock exchange. However, Jones said he’d rather own bitcoin itself than the futures-tied ETF. Despite that, he said the ETF would do fine, and investors should take great comfort that it’s been approved by the US SEC.

Bitcoin reaches a new all-time high

In June, Jones revealed that bitcoin is a great way to protect his wealth over the long run, calling the world’s biggest crypto a store of wealth like gold. Bitcoin reached a new all-time high above $66k yesterday following a massive rally.

Hassan Maishera

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