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Bitcoin Is Winning The Race Against Gold, Says Billionaire Hedge Fund Manager Paul Tudor Jones

Bitcoin is presently “winning the race against gold,” according to billionaire hedge fund manager Paul Tudor Jones. He also stated that cryptocurrencies, rather than gold, are his preferred inflation hedge.


In an interview with CNBC on Wednesday, Paul Tudor Jones, the founder of asset management firm Tudor Investment Corp., discussed bitcoin as his favourite inflation hedge. He stated:


“Clearly, there’s a place for crypto. Clearly, it’s winning the race against gold at the moment … It would be my preferred one over gold at the moment.”


“I’ve got crypto in single digits in my portfolio,” he continued. “I do think we are moving into an increasingly digitized world.”


Jones expressed concern about increasing inflation, citing it as a serious danger to US financial markets and the rebuilding Covid-hit economy.

The price of bitcoin exceeded all-time highs on Wednesday, after the launch of the first bitcoin futures exchange-traded fund (ETF) in the United States on the NYSE. Over the last year, gold has lost 8% while bitcoin has risen 437%.


The billionaire investor was asked to comment on investing in a bitcoin ETF as a way to get exposure to the cryptocurrency. Admitting that he is not “a real expert on ETFs,” Jones said:


“I think a better way to get in would be to actually own the physical bitcoin, to take the time to learn how to own it … I think the ETF would be fine. I think the fact that it is SEC-approved should give you great comfort.”


He went on to say that the United States is “the most prominent economic force in the world because we unleash our individual entrepreneurism and inventiveness.”


The billionaire fund manager earlier stated that bitcoin, like gold, was a store of wealth. Early last year, he began promoting BTC for portfolios. In October 2020, he stated that he expected huge potential in bitcoin and compared it to investing in early Apple or Google.