Billionaire Paul Tudor Jones is ‘long’ on Bitcoin and gold to hedge against inflation

Billionaire hedge money manager Paul Tudor Jones II revealed that helium is investing heavy successful golden and Bitcoin (BTC) arsenic helium expects inflationary pressures volition persist careless of who wins the 2024 US statesmanlike election.

Speaking connected CNBC’s “Squawk Box” connected Oct. 22, Jones emphasized his content that ostentation is inevitable and explained that his portfolio is present positioned for rising prices. He stated:

“I deliberation each roads pb to inflation. I’m agelong gold. I’m agelong Bitcoin. I deliberation commodities are truthful ridiculously under-owned, truthful I’m agelong commodities.”

He besides praised Bitcoin’s show during the pandemic driven economical uncertainty successful 2020. He added that helium remains “long” connected Bitcoin, and his steadfast has besides taken agelong positions connected the flagship crypto.

Jones said his trading strategy is partially driven by the anticipation that erstwhile President Donald Trump volition triumph the US elections successful November.

The terms of golden reached a caller all-time precocious of $2747.40 connected Oct. 22, representing a ascent of implicit 37% this year. Meanwhile, BTC is priced astatine $67,154.65 arsenic of now, up 52% successful 2024, according to CryptoSlate data.

Jones highlighted that galore young investors person sought ostentation hedges done tech-heavy investments similar Bitcoin and the Nasdaq, a strategy that has been palmy amid marketplace uncertainty.

Avoiding fixed income

Amid ostentation fears, Jones believes that the US volition yet effort to inflate its mode retired of mounting debt, which mirrors the humanities trajectories of different heavy indebted nations.

The Congressional Budget Office (CBO) projects that deficits volition emergence to $2.8 trillion by 2034, up from $1.8 trillion successful fiscal 2024, with US indebtedness expected to scope 122% of GDP by the aforesaid year.

Jones believes the projected taxation cuts and spending from some large governmental candidates volition further substance ostentation and pb to higher involvement rates.

Thus, the billionaire is not optimistic astir holding fixed-income assets, stating:

“I americium intelligibly not going to ain immoderate fixed income, and I’m going to beryllium abbreviated the backmost extremity of fixed income. Because it’s conscionable wholly the incorrect price.”

The station Billionaire Paul Tudor Jones is ‘long’ connected Bitcoin and golden to hedge against inflation appeared archetypal connected CryptoSlate.