Manage episode 286533235 series 2401578
As the financial world debates rising Treasury yields and waits for Fed Chair Powell’s comments, has bitcoin just become another risk asset?
Over the last year there has been a growing correlation between the stock market and bitcoin. Some of this is attributed to the new traditional participants in bitcoin. Some of it is attributed to bitcoin acting less like an uncorrelated hedge and more like just another risk asset.
In this episode, NLW argues that the notion bitcoin has started acting more like stocks is, in fact, completely backwards. Instead, in a negative, real interest rate environment, stocks have started to act more like bitcoin - as a store of value.
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Image credit: Popular stock and bitcoin memes