$BTC total addressable market encompasses the $16 trillion gold market and the $30 trillion US Treasury market used as a store of value by individual bondholders and institutions, according to Hunter Horsley, the CEO of digital asset investment firm Bitwise.

"The opportunity for Bitcoin isn't just gold; it is the $30 trillion-plus using Treasuries as a store of value," the CEO wrote on Friday.

Horsley was responding to an earlier post from economist Mohamed El-Erian, in which the economist cautioned analysts that US Treasury flows are no longer a barometer for investor flight to safety. Gold is once again approaching its all-time high of $3,500 per ounce. Source: TradingView

Instead, the economist said that analysts should watch flows into gold and silver — the traditional hedges against currency inflation — for an indication of where investors are seeking safe haven from market risks.

Bitcoin continues to attract investor attention as it emerges as an alternative savings technology and a store-of-value asset with gold-like properties, that can hedge against geopolitical turmoil, macroeconomic shock, and downturns in risk-on markets.#Write2Earn