I've seen this dude, Mohamed El-Erian, on CNBC a few times over the years, seems like a nice fella, anyways, prolly nothing...
https://www.thestreet.com/crypto/ma...bitcoin-emerging-as-safe-alternative-to-bonds
Advisor for $2 trillion Allianz says bitcoin emerging as 'safe' alternative to bonds
In a recent interview, Mohamed El-Erian pointed out that more people are turning to bitcoin as a government bonds lose confidence.
https://www.thestreet.com/crypto/ma...bitcoin-emerging-as-safe-alternative-to-bonds
Advisor for $2 trillion Allianz says bitcoin emerging as 'safe' alternative to bonds
In a recent interview, Mohamed El-Erian pointed out that more people are turning to bitcoin as a government bonds lose confidence.
- SABRINA TOPPA
- OCT 30, 2023 4:02 PM EDT
- Bitcoin, the world’s largest cryptocurrency, offers more of a safe haven than U.S. government bonds these days, according to the chief economic advisor of Allianz, a German financial services company with $2 trillion under management.
"We haven't seen the flight to quality and the flight to safety [to U.S. Treasurys] that you would expect, given what's happening in the world," Mohamed El-Erian, Allianz chief economic advisor and president of Queens' College, Cambridge, told CNBC.
The latest turmoil in the Middle East has not brought more people to the Treasury market, traditionally seen as a place to retreat during times of political and economic turbulence. Instead, El-Elrian noted that bitcoin is becoming a more appealing investment.
“You have people talking about bitcoins, about equity being the 'safe asset' because they've lost confidence in government bonds being the safe asset," El-Erian explained. “But the reality is that the 10-year yield today is a good 70 basis points higher than it was before this latest conflict erupted."
