"Investors Moving from US Treasury Bonds to Alternative Stores of Value like Bitcoin (BTC)"
Summary
- Investors are moving from US Treasury bonds to alternative assets such as gold and Bitcoin.
- The surge in gold inventory at COMEX suggests increasing demand for gold.
- Some foreign central banks, including the Czech Central Bank, have shown interest in Bitcoin ETFs.
Andre Dragosch, Head of Research at Bitwise Europe, stated in an interview with The Block on the 14th (local time) that "investors are gradually moving from US Treasury bonds to alternative stores of value such as gold and Bitcoin (BTC)."
He noted that "the surge in gold inventory at the New York Commodity Exchange (COMEX) indicates increasing demand for gold," adding that "overall, US Treasury bonds are no longer considered the safest asset."
Further, he explained, "This is clearly evident in the sharp decline of long-term Treasury bonds since 2022 and the breakdown of correlation with assets like gold," adding that "some foreign central banks, including the Czech Central Bank, are contacting Bitwise US about investing part of their US Treasury holdings in Bitcoin spot ETFs."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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