In an interview with CNBC last month, Liberty Media chairman John Malone said he has invested more in hard assets over this past year because he believes they will increase in value due to currency devaluation.

Malone said, “We have survived this [crisis] because of enormous fiscal and monetary stimulus,” adding, “I have to believe that this will lead to a devaluation of currencies. Hard assets will increase in value in currency terms. I’m not sure I’m going to call this inflation, but it will look and feel like inflation.”

Over the past year, Malone said he has diversified into hard assets, including multifamily housing in the U.S. and irrigated farm assets. “I’m growing potatoes,” he quipped.