What’s Driving Paul Tudor Jones’ Latest Push for Bitcoin, Gold and Commodities?

Jones is optimistic about both gold and bitcoin, which have delivered solid performances so far this year. As an example, gold hit a high of $2,748.96 per ounce by Tuesday afternoon. Meanwhile, bitcoin was trading at $67.5K per coin, just 8.4% shy of its all-time high. During his CNBC appearance, Jones emphasized that he’s quite optimistic about commodities and BTC.

“All roads lead to inflation,” Jones told the CNBC hosts. “I’m long gold. I’m long bitcoin. I own zero fixed income. The playbook to get out of this [debt problem] is that you inflate your way out.”

It’s not the first time Jones has praised bitcoin, as he already holds a portion of BTC in his portfolio. Just over a week ago, he cautioned about rising geopolitical tensions, noting that the U.S. is “in its weakest fiscal position since World War II.” During his CNBC appearance, Jones also expressed ongoing concerns about the ballooning U.S. national debt.

Back in 2022, when BTC was recovering from the devastating Terra blockchain collapse and just before the FTX debacle, Jones predicted bitcoin’s price would climb “much higher.” Even then, he warned about the U.S. economic situation, predicting that “fiscal retrenchment” was on the horizon. His comments about bitcoin come just two weeks ahead of the 47th U.S. election, where many are expecting fiscal policy to be reshaped depending on the outcome.