Cameron Winklevoss, the co-founder of cryptocurrency exchange Gemini, sees the growing load of negative yield government debt as more than enough reason to own Bitcoin (BTC).
In a recent tweet, Winklevoss stated, “$17 trillion dollars are currently held in negative interest bonds. 17 trillion reasons why you should own bitcoin.”
$17 trillion dollars are currently held in negative interest bonds. 17 trillion reasons why you should own bitcoin.
— Cameron Winklevoss (@winklevoss) October 17, 2019
The $17 trillion Winklevoss is referring to makes up roughly a quarter of the global bond market, most of it government debt with negative yields. These negative interest rates encourage further government borrowing and may have major unintended consequences, so it makes sense Winklevoss would advise investors not to pay the government to take their money.
Additionally, with the economy almost a decade into the current bull market and most of the world’s central banks still holding interest rates near or below zero, Bitcoin looks even more appealing, especially if things start to turn south.
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More: How bonds with negative yields work and why this growing phenomenon is so bad for the economy
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Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.
