Overview

• In CNBC remarks carried into Wednesday coverage, the hedge‑fund veteran said the final year before a top often delivers outsized gains before a sharp reversal.
• He said he is holding gold, cryptocurrencies including bitcoin, and Nasdaq tech into year‑end to capture upside but cautioned investors to keep “really happy feet.”
• Bitcoin traded above $126,000 to fresh all‑time highs alongside strong gold prices, providing real‑time context to his positioning and risk warnings.
• Jones called the setup potentially “more explosive than 1999,” linking it to Fed easing alongside a roughly 6% deficit and warning the rally could end abruptly.
• Jeff Park of ProCap BTC publicly rejected the 1999 comparison, arguing today’s fiscal dynamics, liquidity regime, and institutional adoption make the cycle more supportive of bitcoin.