Billionaire investor and philanthropist Paul Tudor Jones, who’s been a vocal Bitcoin backer up to now has acknowledged that the favored crypto-asset is his most well-liked inflation hedge over gold. The founding father of hedge fund Tudor Investment Corp. talked about at an interview that Bitcoin is presently “winning the race against gold.” Jones referred to inflation as “the number one issue facing investors” and in connection mentioned that there was clearly a place for crypto in investor portfolios. Jones additionally mentioned went on to say that he has a single-digit share allocation of cryptocurrencies in his private portfolio.
“I do think we’re moving into an increasingly digitised 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,” Tudor mentioned in an interview with CNBC.
Back in May, in one other interview, Jones had mentioned that Bitcoin was his favorite inflation hedge, in gentle of the pandemic. His current feedback affirm that he stands by what he’d mentioned earlier within the 12 months. The investor additionally went on to say that China’s determination to throw a blanket ban on crypto-trading could have financial penalties for the nation sooner or later.
Jones did not simply cease there. He provided some ideas on the current launch of the ProShares Bitcoin Futures ETF too, stating that whereas the brand new Bitcoin futures exchange-traded fund (ETF) is a regulated and bonafide product, he thinks a higher funding is to personal Bitcoin. That mentioned, he does acknowledge the truth that the US Securities and Exchange Commission’s (SEC) determination to approve Bitcoin Futures-linked ETFs will carry nice aid to believers within the crypto-verse.