As the Federal Reserve of the United States is discussing hiking interest rates by half a percentage point, the biggest increase in 20 years, billionaire Paul Tudor Jones has remarked that while owning stocks and bonds may be a bad idea, he still believes in Bitcoin and cryptocurrency.
He said in an interview with CNBC’s Squawk Box that he still owns Bitcoin and remains positive about it.
Paul Tudor Jones has mentioned the inflation that hit the United States during the 1970s. It initially reached 5.5%, then rapidly grew to 14.4%, only to fall somewhat in 1980.
Jones claims that there were no assets that could provide positive returns at the time, including gold.
According to the investor, stocks and bonds are the last things to keep these days, and the only thing to do and aim for is to protect one’s wealth, losing as little as possible amid growing inflation. It has already risen to 7% this year.
He emphasised that we are most likely entering another uncommon era in which it will be difficult to earn money in the market.
When questioned whether he is still long on cryptocurrency, Jones stated that he is “modestly invested” and thinks that the ongoing rate rises would assure a good future for his crypto investment.
