The $30 trillion in U.S. Treasuries used as a store of value is bitcoin’s real opportunity, positioning itself as the next financial safe haven as confidence in government debt unravels.
Bitwise CEO: Bitcoin’s Opportunity Is the $30T Held in Treasuries as a Store of Value
Asset management executive Hunter Horsley, CEO of Bitwise, expressed a bullish outlook on bitcoin in several posts on social media platform X this week, highlighting a shifting perception of safe-haven assets. On June 13, Horsley responded to a commentary from Mohamed A. El-Erian, chief economic advisor at Allianz, who criticized the effectiveness of U.S. Treasuries as a flight-to-quality vehicle. Horsley underscored that bitcoin’s potential extends well beyond being digital gold:
The opportunity for bitcoin isn’t just gold. It’s the $30T+ using Treasuries as a store of value.
Horsley’s remarks came after El-Erian posted on X that U.S. Treasury yields had shown minimal response to geopolitical tensions following the Israeli attack on Iran, contrasting this with the noticeable inflows into gold and silver. El-Erian stated: “The flows are happening; they’re just not headed to Treasuries as historical experience would suggest.” Horsley used this moment to promote bitcoin’s broader utility as a modern alternative to both gold and government debt, implying a generational shift in capital allocation.
The executive has consistently maintained a bullish stance on bitcoin. His optimism regarding bitcoin’s influence on institutional finance and retail behavior persisted earlier this week. On June 12, he noted that major bitcoin purchases by public companies are still pending:
There’s a lot of bitcoin treasury companies that have announced— but haven’t yet closed, and thus bought the bitcoin. There’s a lot of demand coming in Q3.
In a separate post the same day, Horsley emphasized the discreet nature of bitcoin ownership: “Bitcoin is an asset that 10s of millions of people own but most don’t tell people they know that they own it (ofc bitcoin twitter is an exception!). Always delighted when accomplished people say it in public.” On June 10, he projected further price growth as bitcoin adoption deepens: “I think once bitcoin breaks through eg $130-150k, no one is going to sell their bitcoin … There’s simply not going to be enough bitcoin.”
