According to Cointelegraph, veteran investor Paul Tudor Jones said he is bullish on Bitcoin and other commodities due to rising inflation expectations after the US election. Jones said on CNBC's Squawk Box that he would hold gold, Bitcoin, commodities and NASDAQ technology stocks instead of fixed income assets.

According to data released by the Federal Reserve Bank of New York on October 15, the median inflation expectation of American consumers for the next 12 months is about 3%. However, Jones believes that increased US government spending and upcoming tax cuts make it almost impossible to achieve these goals.

The Congressional Budget Office estimates that the federal government deficit will reach $1.9 trillion in fiscal 2024, and it is expected to grow to $2.8 trillion by 2034. Jones believes that the only solution is to inflate our way out of the predicament, and he uses Japan as an example.

JPMorgan said in a report on October 3 that investors are turning to gold and Bitcoin to prepare for "catastrophic scenarios" brought about by increased geopolitical tensions. The report also mentioned that Bitcoin exchange-traded funds saw a resurgence of inflows in September, indicating that retail investors may also view gold and Bitcoin as similar safe-haven assets.

Bitcoin price has risen by more than 50% so far, with analysts predicting a price target close to its current all-time high of $73,679.