Paul Tudor Jones on inflation hedges: Long gold, bitcoin, commodities

Billionaire hedge fund manager Paul Tudor Jones says he is long gold ( XAUUSD:CUR ), bitcoin ( BTC-USD ) and commodities, and also noted that the tech-heavy Nasdaq Composite index ( COMP:IND ) was a "great" inflation hedge. Jones' comments came in an interview with CNBC on Tuesday while discussing the deteriorating situation of the U.S. debt trajectory. The interview was conducted just a few days after government data showed the annual budget deficit rose by $138B to $1.8T in the fiscal year that ended in September. According to Jones, the "playbook" to reducing the country's debt to GDP ratio is to "inflate your way out." "You have a small tax on the consumer, and you run interest rates below inflation and nominal growth above inflation," Jones told CNBC. "All roads lead to inflation. I am long gold. I am long bitcoin. I think commodities are so ridiculously underowned, so I'm long commodities," Jones said. "I think most young people find their inflation hedges via the Nasdaq, that's also been great. I probably have some basket of gold, bitcoin, commodities and Nasdaq, something like that. And I own zero fixed income," he added. Jones' comments come at a time when gold prices are sitting at record highs. Spot gold ( XAUUSD:CUR ) settled at $2,746.07/ounce on Tuesday, as investors flock to the safe-haven amid geopolitical tensions in the Middle East and an uncertain U.S. economic and political outlook. For more, see live data for several assets on the Seeking Alpha commodities page. Meanwhile, bitcoin ( BTC-USD ) has been on an upward trend lately, which analysts have attributed to volatility in the lead-up to the U.S. presidential election. Notably, about $560M flowed into 11 spot bitcoin ETFs on Monday, the largest amount since early June, according to data from London-based Farside Investors. Turning to the Nasdaq Composite ( COMP:IND ), the tech-heavy gauge has soared 23.7% YTD, as the artificial intelligence (AI) trade continues to boom. Here are some exchange-traded funds of interest linked to gold and gold miners: ( GLD ), ( IAU ), ( SGOL ), ( OUNZ ), ( BAR ), ( GDX ), ( GDXJ ), ( NUGT ), ( RING ), and ( DUST ). For ETFs linked to bitcoin, see: ( IBIT ), ( ARKB ), ( GBTC ), ( BRRR ), ( BTCO ), ( HODL ), ( BTCW ), ( FBTC ), ( BITB ), and ( EZBC ). And for ETFs tracking the Nasdaq Composite ( COMP:IND ), see: ( QQQ ), ( QLD ), ( TQQQ ), ( QID ), and ( SQQQ ). More on the markets Are You Looking For Data To Support Your Views? Latest Memo From Howard Marks: Ruminating On Asset Allocation Rising Dividend Outlook Boosting Stock Prices Soaring $1-handle stocks leaping into IBKR’s most-active list may point to market froth Wednesday's Economic Calendar