The yield on gold has surpassed that of U.S. Treasuries, indicating a shift in traditional safe-haven logic.

A historic moment has occurred: the yield on gold has surpassed that of U.S. Treasuries for the first time.
What does this mean? Simply put, it means that investors would rather hold non-interest-bearing gold than hold U.S. Treasury bonds that are claimed to be "risk-free." This is a direct reflection of the crisis of trust in the traditional financial system.
The reasons behind this are not difficult to understand. Inflation remains high, and the real yield on U.S. Treasuries is negative; geopolitical risks are escalating, challenging the dollar's status as the reserve currency; central banks around the world are increasing their gold holdings while reducing their U.S. Treasury holdings.
This transformation is significant for the cryptocurrency market. Bitcoin is often referred to as "digital gold," and if traditional gold is challenging the status of U.S. Treasuries, then Bitcoin's opportunities are even greater.
In fact, several institutions have begun to incorporate Bitcoin into their asset allocation as a tool to hedge against traditional financial risks. To some extent, gold and Bitcoin are joining forces to challenge the dollar-centric financial system. #加密市场观察