Gemini exchange co-founder Cameron Winklevoss recently promoted the idea of buying Bitcoin to the detriment of government bonds. The discussion on Twitter started from the fact that most bonds currently have negative yields. Analysts estimate that they are currently worth $ 17 trillion.
Winklevoss argued that investors should shift to Bitcoin, which has a much higher ROI than any other type of investment.
“Currently, 17 trillion dollars are held in negative interest bonds. 17 trillion reasons why you should own bitcoin. “
He stressed that purchasing cryptocurrencies is now much easier, because it takes two minutes to create an account on a crypto exchange.
At the beginning of October, Tone Vays, a veteran trader and expert in Bitcoin, expressed a similar position:
“As more and more developed nations are trying to eliminate cash and implement negative interest rates, this can drive many people into Bitcoin.”
Negative yields on bonds
In mid-August, Deutsche Bank reported that 27% of global bonds traded were negative. Basically, this means that those who bought the bonds will receive less money than they invested.
Gabor Gurbacs, VanEck’s director of digital assets, estimated that government debt amounts to $ 15 trillion.
“It’s time for Plan ₿!”
added Gurbacs.
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