"Historically, Fed taper has been a headwind for bitcoin," one fund manager said.
The U.S. unemployment rate fell to 5.4%, a post-pandemic low, from 5.9% in June, according to the U.S. Labor Department's Bureau of Labor Statistics.
Financial markets from stocks to bonds to cryptocurrencies have been fixated on inflation readings as the economy reheats.
Bitcoin remains relatively resilient, having priced in the Fed's hawkish tilt in advance.
Jones said he likes bitcoin and sees it as a great way to protect wealth over the long run.
The Consumer Price Index is important to bitcoin investors who are watching for signs of inflation.
Inflation could send the global economy into recession as central banks lose control, according to Deutsche Bank.
The sluggish economy could prompt the U.S. Federal Reserve to more slowly toward tapering its $120 billion in monthly bond purchases.
Nearly all major components of the CPI increased in April, a sign that pent-up demand is fueling a rebound in economic mobility.
The unemployment rate edged up to 6.1% from 6%.
Inflation remains a key focus, according to a survey of global investors, although risk of a "Fed taper" appears low.
The 12-month rate represents an acceleration from January's 1.4% clip, a pickup partly driven by higher gasoline price.
The CPI for February probably rose 1.7%, accelerating from the January pace of 1.4%, based on economists' projections.
Treasury yields are up with job numbers topping economist expectations. What does it mean for high-risk assets like bitcoin?
The comments came after reports the White House was considering reducing the size of its proposed stimulus package.