Paul Tudor Jones says crypto is his preferred inflation hedge over gold right now

Paul Tudor Jones says crypto is his preferred inflation hedge over gold right now

Paul Tudor Jones

Leanne Miller | CNBC

Billionaire investor Paul Tudor Jones told CNBC on Wednesday he views cryptocurrencies right now as a better hedge against inflation than gold.

“It would be my preferred one over gold at the moment,” Jones said in a “Squawk Box” interview. He added, “Clearly, there’s a place for crypto. Clearly, it’s winning the race against gold at the moment.”

Jones, a bitcoin and crypto bull, also told CNBC he’s very worried about rising inflation, saying it’s posing a major threat to the U.S. financial markets and the recovering Covid-hit economy.

“I’ve got crypto single digits in my portfolio,” Jones said, referring to the percentage of his holdings in cryptocurrencies.

Back in June, Jones told CNBC that bitcoin is a great way to protect his wealth over the long run, calling the world’s biggest crypto a store of wealth like gold.

Bitcoin, often referred to as digital gold, was also designed as a payment system. Though adoption as money to pay for things has been slow due to the volatile nature of the digital coin.

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