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

Billionaire hedge fund supervisor Paul Tudor Jones II revealed he’s investing closely in gold and Bitcoin (BTC) as he expects inflationary pressures to persist no matter who wins the 2024 US presidential election.

Talking on CNBC’s “Squawk Field” on October 22, Jones emphasised his perception that inflation is inevitable and defined that his portfolio is now positioned for rising costs. He acknowledged:

“I believe all roads result in inflation. I am tall gold. I’m lengthy Bitcoin. I believe commodities are so ridiculously under-owned, so I am lengthy commodities.”

He additionally praised Bitcoin’s efficiency through the pandemic-induced financial uncertainty in 2020. He added that he stays “lengthy” on Bitcoin, and that his agency has additionally taken lengthy positions on the flagship crypto.

Jones mentioned his buying and selling technique is pushed partly by expectations that former President Donald Trump will win the U.S. election in November.

Gold costs hit a brand new all-time excessive of $2,747.40 on October 22, marking a rise of over 37% this yr. In the meantime, BTC prices $67,154.65 as of now, up 52% ​​by 2024, based on information from CryptoSlate.

Jones highlighted that many younger buyers have sought inflation hedges by tech-intensive investments like Bitcoin and the Nasdaq, a technique that has been profitable amid market uncertainty.

Keep away from mounted revenue

Amid inflation fears, Jones believes the US will finally attempt to dig its method out of mounting debt burdens, mirroring the historic developments of different closely indebted nations.

The Congressional Finances Workplace (CBO) tasks that deficits will rise to $2.8 trillion by 2034, up from $1.8 trillion in fiscal yr 2024, with U.S. debt anticipated to succeed in 122% of GDP by the identical yr.

Jones believes the proposed tax cuts and spending from each main political candidates will additional gas inflation and result in greater rates of interest.

The billionaire is subsequently not optimistic about holding mounted revenue property and states:

“Clearly I cannot personal mounted revenue, and I shall be shorting the again finish of mounted revenue. As a result of it is simply the mistaken worth.”

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