Paul Tudor Jones remains optimistic about Bitcoin due to the many paths leading to inflation

CoinWorld website reported:
Billionaire investor Paul Tudor Jones stated in an interview with CNBC on October 22nd that “all roads lead to inflation”; he added that he is bullish on gold, bullish on Bitcoin, and believes that commodities are “severely undervalued.”
“I might have a basket of gold, Bitcoin, commodities, and Nasdaq, and the like. And my fixed income is zero.”
“I am bullish on gold, I am bullish on Bitcoin, I think the holdings of commodities are ridiculously low, so I am bullish on commodities,” he said.
@ptj_official
“I might have a basket of gold, Bitcoin, commodities, and Nasdaq, and the like. And my fixed income is zero.”
pic.twitter.com/i152rZFlbs
–Squawk Box (@SquawkCNBC)
October 22, 2024
Store of value assets are king
Bitcoin merchant Anthony Pompliano
commented
jokingly, “Maybe nothing!”
“Paul Tudor Jones is very persuasive in being bullish on Bitcoin and gold,” replied the PiWhales account to its 514,000 X fans.
“Inflation as a solution to the debt problem may make decentralized assets like Bitcoin more attractive,” it added.
Bitcoin dropped to within 6.5% of its peak price on October 21, but has since fallen to the level of $67,000 in the past few days.
Gold prices have risen 33% this year, breaking through $2,750 for the first time in history. Meanwhile, silver prices are currently at their highest level since 2012, rising more than 46% in 2024.
Jones
explained that
inflation
will happen regardless of what the central bank does, as the country needs to address the ratio of debt to GDP.
“If we’re trying to stabilize the ratio of debt to GDP, we want to implement the most moderate monetary policy without letting inflation become too burdensome for citizens.”
Currently, US public debt amounts to 120% of GDP,
according to
the St. Louis Federal Reserve Bank.
A high ratio of debt to GDP limits a country’s ability to respond to economic shocks, increases the risk of debt default, and leads to rising interest rates. It can also create a vicious cycle of debt, inflation, and potential decline in economic growth, ultimately threatening long-term economic stability of the country.
US national debt currently stands at $35.7 trillion and is growing exponentially.
It took the US 221 years to accumulate the first $12 trillion of national debt.
In the past 5 years, we have added another $12 trillion in debt.
Insane.
pic.twitter.com/Y4CmOGI1bH
–Anthony Pompliano (@APompliano)
October 22, 2024
Central banks disagree
However, central banks and monetary policy gurus around the world paint a different picture. In the October 22nd World Economic Outlook forecast, the International Monetary Fund
claimed
that the “fight against inflation has essentially been won.”
During the COVID-19 lockdowns, global inflation rates soared but have since declined. However, in most countries, the actual inflation rate continues to rise, measured by increasing costs of fuel, food, energy, and utilities for ordinary consumers.
Paul Tudor Jones
warned of inflation
in 2022 and predicted a rise in Bitcoin and Ethereum prices.