The 20-year-old has been one of the most exciting players in Ligue 1 this season, triggering links with the two clubs from north London.
When asked about his future after Bordeaux's 1-0 win over Nantes on Saturday, Malcom said he wasn't sure what would happen in January but also revealed he was keen to sample English football in the future, per Jack Rosser of the Evening Standard.
"I don't know [whether I will go]," he said. "If I do leave, that would be fine. I will be grateful to Bordeaux. That's life. If I have to stay, I will, and I will do my job. It is true that England is a dream for every player."
Goal UK provided footage of when Malcom spoke to reporters:
According to Jason Burt of the Daily Telegraph, Spurs are the favourites to secure Malcom's signature, with recent discussions held over a deal that would see the winger arrive at the club in the summer.
Meanwhile, BBC Sport's David Ornstein reported on Friday that Arsenal dropped their interest in the forward as they believed he was "too inexperienced" for the amount of money that would need to be paid to sign him.
Burt said Malcom would likely cost in the region of £35 million.
French football journalist Andrew Gibney suggested in December that Spurs would be a brilliant fit for Malcom:
Based on what he said on Saturday, the player would be keen to make the switch, especially given Spurs are moving in an exciting direction under Mauricio Pochettino.
The Bordeaux man's attributes align well with Tottenham's setup. Spurs' squad is packed full of talented, technical and improving young footballers. These players, most notably the likes of Harry Kane and Dele Alli, have benefitted enormously from working with Pochettino too.
Malcom is the type of talent who would be likely do the same, although he would also add something different to the Spurs attack. Being left-footed, skilful and blisteringly quick, he would make Tottenham's forward play even more varied.
French football journalist Matt Spiro suggested via Twitter that Arsenal would benefit from landing the Brazil youth international:
With Bordeaux still in a battle to preserve their Ligue 1 status, they can't afford to let someone who has grabbed seven goals and five assists this term depart. With that in mind, any side chasing Malcom would most likely have to wait until the summer to get their man.
Should that be Spurs, they would be securing a player who is still raw, still inconsistent and still capable of anonymous displays. But with the right development, and you sense he would get that under Pochettino, Malcom has all the attributes to blossom into a world-class talent.