March 28, 2024

Bitcoin is the best asset to protect against inflation

Bitcoin is the best asset to protect against inflation

Billionaire investorPaul TudorJones has revealed that he has been bullish since his first investment in bitcoinonly intensified. Jones sees cryptocurrency as the best inflation hedge.

“Now I like Bitcoin even more than I did then,- he said in a conversation with CNBC.

I think we are still in the first period of bitcoin and has a long way to go. "

Jones announced his investment in cryptocurrencyin May this year. At the time, he said that he "placed a little more than 1% in bitcoin, perhaps almost 2%." In a recent interview, he stated that he holds a "small single-digit" amount in bitcoin.

Jones expects that unprecedented quantitative easing by the Federal Reserve will translate into a tangible increase in inflation.

“The reason why I have recommended Bitcoin isin that it was on the menu of inflationary trades, like gold, like breaking even on inflation-protected Treasuries, like copper, like long on a yield curve. I have come to the conclusion that Bitcoin will be the best inflationary deal "Jones added.

He also compared investing in bitcoin with investing in shares of large tech companies:

“Bitcoin has incredible focusvery, very smart and advanced people who believe in it. It's like investing with Steve Jobs and Apple, or investing in Google early on. "

Jones has previously stated that he is very conservative, so he will keep in bitcoin "a tiny percentage of his assets", but still believes that cryptocurrency may be the best part of his portfolio.

Bitcoin is the best asset to protect against inflation

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