How bitcoin is becoming more gold-like with ByteTree
Charlie Morris, chairman of ByteTree, joined Teana Baker-Taylor for this week’s onchain reaction. They discussed bitcoin and the correlations between interest rates and bond yields. (49:50) “Basically bitcoin spent a lot of time going up and some time going down and then some time consolidating….
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Charlie Morris, chairman of ByteTree, joined Teana Baker-Taylor for this week’s onchain reaction. They discussed bitcoin and the correlations between interest rates and bond yields.
(49:50) “Basically bitcoin spent a lot of time going up and some time going down and then some time consolidating. And the time it’s been going down has been the same time when global central balance sheets have also been contracting mainly 2014 and 2018. It’s as clear as mustard.”
(50:19) Bitcoin has responded to falling real interest rates.
(51:46) “You could argue that bitcoin is becoming a bit more gold-like. And I’ve been tracking this for several years now and I can tell you that it hasn’t been gold-like at all. But recently there’s some indication that it might be happening.”
(53:57) Bitcoin benefits from rising inflation.
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