Paul Tudor Jones calls bitcoin the 'best inflation hedge,' warns of overvalued stocks
Billionaire investor Paul Tudor Jones labeled bitcoin as the 'best inflation hedge,' surpassing gold due to its fixed supply, while warning that U.S. stock valuations are dangerously high and could lead to negative returns over the next decade. He compared current equity market conditions to the dot-com bubble, citing elevated stock market capitalization relative to GDP. Jones cautioned that a major market correction could severely impact tax revenues, the federal budget deficit, and the bond market. His comments reflect a growing preference for bitcoin as a macro hedge amid expansive fiscal and monetary policies.
- ▪Paul Tudor Jones stated that bitcoin is a stronger inflation hedge than gold because of its capped supply.
- ▪He warned that current S&P 500 valuations suggest negative 10-year forward returns.
- ▪Jones noted that U.S. stock market capitalization as a share of GDP is near levels seen during the 2000 dot-com bubble.
- ▪A sharp market downturn could eliminate capital gains tax revenues, worsening the budget deficit and affecting the bond market.
- ▪He highlighted that aggressive monetary stimulus has historically favored inflation-resistant assets like bitcoin.
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MarketsShareShare this articleCopy linkX iconX (Twitter)LinkedInFacebookEmailPaul Tudor Jones calls bitcoin the 'best inflation hedge,' warns of overvalued stocksIt will be "really hard to make money" in stocks over the next decade, said the billionaire investor, noting that the S&P 500's valuation reminds him of the 2000 dot-com bubble.By Krisztian Sandor|Edited by Stephen Alpher Apr 28, 2026, 7:56 p.m. Make preferred on Paul Tudor Jones (Kevin Mazur/Getty Images)What to know: Paul Tudor Jones said bitcoin, with its fixed supply, is a stronger hedge against inflation than gold, especially during periods of heavy monetary and fiscal stimulus.U.S.
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