Paul Tudor Jones calls bitcoin the 'best inflation hedge,' warns of overvalued stocks

It 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.\nWhat 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. equities look overvalued, Jones warned, arguing that current S&P 500 valuations imply a negative 10-year forward return. Stock market capitalization relative to GDP is near historic extremes like the dotcom bubble, he noted, raising the risk that a major market correction could worsen the federal budget deficit and roil the bond market through collapsing capital-gains tax revenues.