CoinDesk·4 min read·hard
When safe assets compete with risk. Lessons from the 1960s–90s for bitcoin and stocks.
O
Omkar Godbole
✦AI Summary
Rising U.S. Treasury yields are creating increased competition for capital, potentially impacting the performance of stocks and bitcoin. Historical trends suggest that when risk-free rates rise, speculative assets face greater pressure to justify their valuations.
Financial markets’ risk-free rate, the yield on U.S. Treasury securities, is rising again . Crypto maximalists often dismiss this as background noise, but when the rate rises sharply, it often competes for capital with stocks and other assets. History shows that the resulting market adjustments tend to be painful.
businesseconomycrypto
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