The hedge fund manager, whose net worth is about $7.5 billion, said monetary policy in the 2020s could focus on “debt-for-country dynamics” with fiscal contraction or long-term premiums in bond and stock markets.

“I still have a very small allocation, I always have a small allocation for [Bitcoin],” Jones said. “In an age where there is a lot of money – which is the cause of inflation and high financial costs – something like cryptography, especially bitcoin and ethereum, where there is a limited amount of it, at some point it will have value.”.

Jones did not elaborate on the amount of the “too small” distribution of bitcoin, but said in May 2020 that the cryptocurrency represents between 1% and 2% of his total holdings. In June 2021, citing inflation concerns and US Federal Reserve policy, he called for 5% for bitcoin, 5% for gold, 5% for cash and 5% for commodities.

Related: Cryptocurrency wallets: how much stable distribution is too much?

After the FOMC meeting in May, Jones said there would be a “very negative environment” for stocks and bonds and that the US was entering “uncharted territory” when the Federal Reserve raised interest rates. Many know the veteran investor for shorting stocks before the market crash of 1987, when his fortune tripled.

Source: CoinTelegraph