Bitcoin, And Gold To Explode As Treasury Yields Hit Record Lows?
Here’s a bit of positive news today:
Bitcoin, Gold to Explode as Treasury Yields Hit Record Lows: Top Portfolio Manager
Bitcoin prices could explode based on their untapped correlation with US Treasury yields, according to prominent portoflio manager Ari Paul.
The BlockTower Capita’s co-founder and CIO pitted the cryptocurrency’s long-term potential against US government bonds as the latter rallied towards its unprecedented highs this Monday. Mr. Paul noted that lower yields on the US Treasury bonds are less attractive for investors, which makes bitcoin an attractive alternative.
“Not a short-term market call at all, but it’s this dynamic that will eventually set up for a parabolic move in both gold and bitcoin [in my opinion],” the analyst said in a tweet. “Historically, gold has performed best as real rates (nominal – inflation) fell the most.”