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Billionaire trader Paul Tudor Jones made bank in gold. Now he calls Bitcoin the ‘best inflation hedge’

By Tim Craig

Paul Tudor Jones is heaping praise on Bitcoin.In a Wednesday appearance of the Invest Like The Best podcast, the billionaire hedge fund manager, who was one of several traders to capitalise on Bitcoin’s near 900% rise in 2020, lauded the top cryptocurrency for its ability to counter inflation.“Bitcoin is,…

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Bitcoin

The first and largest cryptocurrency, created in 2009, with a fixed maximum supply and no central issuer.

Its price swings and adoption by funds and companies make it a bellwether for the whole crypto market.

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Inflation

The rate at which the general level of prices for goods and services rises over time, usually measured over twelve months.

When prices rise faster than wages, households can buy less with the same income, and central banks may raise interest rates in response.

More about Inflation
Cryptocurrency

A digital currency secured by cryptography and recorded on a blockchain, without a central bank issuing it.

Crypto prices are volatile, and governments are still deciding how to regulate it.

More about Cryptocurrency

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