Overview
- Jones, in a Tuesday interview on the Invest Like the Best podcast, called bitcoin the strongest inflation hedge and said it beats gold because its supply is capped.
- He argued it will be really hard to make money in stocks over the next decade, pointing to S&P 500 valuations that he said resemble the 2000 dot‑com era.
- Citing the market‑cap‑to‑GDP gauge, he noted past peaks of about 65% in 1929, 85% to 90% in 1987, and 270% in 2000, and said the ratio sits near 252% now.
- He warned a deep equity drop could shrink capital‑gains tax receipts he pegged at about 10% of federal revenue, widen the budget deficit, and hit the bond market.
- He said bitcoin tends to shine when central banks and governments flood the system with money, recalling post‑March 2020 stimulus, while also flagging cyber and future quantum‑computing risks for the asset.