The US government is paying 5% with zero risk. That's bad news for Bitcoin.
The 10-year Treasury yield just hit 5.10%, its highest since 2007. When a fund managing billions can lock in 5% guaranteed, it needs a much bigger reason to hold something that pays nothing.
That's the whole link between bond yields and crypto, in one minute.
What yield would it take for you to swap Bitcoin for bonds?
$BTC #BondYields
The 10-year Treasury yield just hit 5.10%, its highest since 2007. When a fund managing billions can lock in 5% guaranteed, it needs a much bigger reason to hold something that pays nothing.
That's the whole link between bond yields and crypto, in one minute.
What yield would it take for you to swap Bitcoin for bonds?
$BTC #BondYields