Legendary investor Paul Tudor Jones is concerned about the current state of the US economy and rising debt. His investment solutions to hedge against inflation include buying commodities, including Bitcoin.
“I think all roads lead to inflation,” he told CNBC on Tuesday. “I’m long gold, I’m long Bitcoin. I’m long commodities because I think they’re incredibly undervalued.”
He added that most young people find an inflation hedge by investing in the Nasdaq, “which is great.”
Mr. Jones, a billionaire investor who founded the hedge fund Tudor Investment Corporation, said he was concerned about the U.S.’s rising debt. The US national debt currently stands at $35.77 trillion and continues to rise.
The national debt is what the U.S. federal government has to pay for things like defense, education, and health care.
He said the only way the country could get out of such high debt was to inflate it. “All roads lead to inflation. Historically, that’s how all civilizations have escaped by running up debt,” he said.
Although Bitcoiners tout cryptocurrencies as a hedge against inflation, many experts still do not consider cryptocurrencies to be a hedge like other traditional assets such as gold.
Jones has repeatedly said in the past that he likes Bitcoin and that investors can hold on to the asset during times of uncertainty. The Wall Street giant even claimed in 2021 that Bitcoin could be a hedge against inflation.
“I like the idea of investing in something that is reliable, consistent, honest, and 100 percent certain. What made Bitcoin appealing to me was that it allows you to invest in certainty. Because it’s a method,” he said at the time.
Edited by Andrew Hayward
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