Bitcoin's vs negative yielding debt
Bicoin remains one of the most crowded trades out there, although it has become somewhat "boring" lately.
As DiMartino Booth of Quill intelligence writes;
1, Negative-yielding sovereign debt doubled in just nine months in 2019 to a then-high of $16.8 trillion; though the Fed’s corporate debt bailout last March avoided negative rate adoption, it led to a fevered pace of issuance that took negative-yielding debt to a record $17.8 trillion
2, As seen by Bitcoin’s 2017 high amidst fears of negative-yielding sovereign debt hitting $10 trillion, the two assets tend to move together; that has changed since the Georgia runoffs, with $3 trillion in negative-yielding debt being erased while Bitcoin has more than doubled
Obviously there is much more to the bitcoin story, but watch the negative yielding debt closely...
As DiMartino Booth of Quill intelligence writes;
1, Negative-yielding sovereign debt doubled in just nine months in 2019 to a then-high of $16.8 trillion; though the Fed’s corporate debt bailout last March avoided negative rate adoption, it led to a fevered pace of issuance that took negative-yielding debt to a record $17.8 trillion
2, As seen by Bitcoin’s 2017 high amidst fears of negative-yielding sovereign debt hitting $10 trillion, the two assets tend to move together; that has changed since the Georgia runoffs, with $3 trillion in negative-yielding debt being erased while Bitcoin has more than doubled
Obviously there is much more to the bitcoin story, but watch the negative yielding debt closely...