Paul Tudor Jones picks crypto over gold
Billionaire investor Paul Tudor Jones has come out in support of cryptocurrencies over gold as he believes they are a better hedge against inflation. He made this known during an interview with CNBC Squawk Box yesterday.Tudor Jones stated that “It would be my preferred one over gold at the moment. Clearly, there’s a place for crypto. Clearly, it’s winning the race against gold at the moment.”
The billionaire hedge fund manager said he has crypto single digits in his portfolio when quizzed about the percentage of his holdings in cryptocurrencies. Jones also talked about the rising inflation levels in the United States and other parts of the world, adding that it is a cause of concern.
The ProShares Bitcoin ETF recently started trading on the stock exchange. However, Jones said he’d rather own bitcoin itself than the futures-tied ETF. Despite that, he said the ETF would do fine, and investors should take great comfort that it’s been approved by the US SEC.
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