Billionaire investor Paul Tudor Jones says bitcoin reminds him of gold in the 1970s.
Billionaire investor Paul Tudor Jones made a prescient call on bullion in 2019; now he’s saying that bitcoin, the controversial digital currency, reminds him of gold in the 1970s, and may be the best hedge against inflation in the age of coronavirus.The famed hedge-fund investor, writing in a recent research note, cited unprecedented money-printing and stimulus measures by the Federal Reserve and the U.S.
Gold prices for June delivery on Thursday settled at $1,725.80 an ounce on Comex, and have gained 13.4% so far in 2020 and 34.4% over the past 12 months. Jones is widely credited with predicting, and profiting, from the stock-market crash on Oct. 19, 1987, which saw the Dow lose nearly 23% of its value, marking the largest one-day percentage decline for the blue-chip benchmark in its history.
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