Coin World News Report:
Legendary investor Paul Tudor Jones is concerned about the state of the US economy and its growing debt. His inflation hedge investment strategy includes buying commodities, including Bitcoin.
“I think all roads lead to inflation,” he said on CNBC on Tuesday. “I am long gold, I am long Bitcoin. I think commodities are severely undervalued, so I am long commodities.”
He added that most young people hedge against inflation by investing in Nasdaq, which is “great.”
Jones, the billionaire investor who founded the hedge fund Tudor Investment Corporation, expressed concerns about the increasing US debt. The US national debt currently stands at $35.77 trillion and is still growing. National debt is something the US federal government uses to pay for expenses such as national defense, education, and healthcare.
He said the only way for a country to get rid of such high debt is through inflation. “All roads lead to inflation – every civilization in history has gotten rid of their debt by inflating it,” he said.
Bitcoin enthusiasts have touted the cryptocurrency as a hedge against inflation, although many experts still do not see it as a hedge like other traditional assets such as gold.
Jones has mentioned multiple times in the past that he likes Bitcoin and that investors can hold the asset in uncertain times. The Wall Street titan even claimed as early as 2021 that Bitcoin can hedge against inflation.
“I like investing in things that are reliable, consistent, honest, and 100% certain,” he said at the time. “Bitcoin attracted me because it is a way for me to invest in certainty.”
Editor: Andrew Hayward