Bitcoin can absorb the U.S. Treasury market, valued at $30 trillion, according to the CEO of Bitwise
Bitcoin not only competes with gold as an alternative store of value but also with all savings instruments, including state securities.
The total accessible market of Bitcoin
BTC
€90,986
encompasses the gold market, valued at $16 trillion, and the U.S. Treasury bond market, valued at $30 trillion, which individual bondholders and institutions use as a store of value, according to Hunter Horsley, CEO of the digital asset investment firm Bitwise.
"The opportunity for Bitcoin is not just gold, but the more than $30 trillion that Treasuries use as a store of value," the CEO wrote on Friday.
Horsley was responding to a previous post by economist Mohamed El-Erian, in which he warned analysts that U.S. Treasury flows are no longer a barometer of investor flight to safety.
