TechFlow news — Billionaire and hedge fund giant Paul Tudor Jones said on Tuesday's episode of CNBC's Squawk Box that factors such as widespread geopolitical risks and rising U.S. government debt levels make holding stocks difficult, but Bitcoin and gold are attractive alternatives. He also described the U.S. fiscal situation as the weakest since at least World War II.
Jones explained: "As U.S. interest costs rise, you get caught in this vicious cycle: higher rates increase financing costs, leading to more bond issuance, which further exacerbates bond liquidations and thus pushes rates even higher... The U.S. fiscal condition is unsustainable. I don't like stocks, but I do like Bitcoin and gold."
Jones first expressed bullish views on Bitcoin in May 2020, stating he had allocated 1%-2% of his assets to cryptocurrencies. A year later, he indicated a desire to increase that allocation to 5%. In early 2023, Jones noted that an unfriendly regulatory environment and the Federal Reserve's determination to curb inflation could become headwinds for Bitcoin.
