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Bitcoin’s (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.
Instead, the economist said that analysts should watch flows into gold and silver — the traditional…more
Source cointelegraph.com
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