Bitwise CEO Highlights Bitcoin’s Potential as a Safe Haven Against U.S. Treasuries

Bitwise CEO Hunter Horsley promotes bitcoin as a potential safe haven, suggesting its opportunity lies in challenging the $30 trillion U.S. Treasury market. His comments follow criticism of Treasuries’ efficiency as a store of value, particularly in times of geopolitical instability. He believes significant public company purchases are on the horizon, highlighting a growing trend in bitcoin ownership and its potential for appreciation.

In a bold statement this week, Hunter Horsley, CEO of Bitwise, articulated a rather optimistic view on bitcoin’s future, particularly its potential to tap into the substantial market represented by over $30 trillion in U.S. Treasuries. According to his perspective, bitcoin isn’t just another form of digital gold; it stands poised to replace Treasuries as a safe haven for value storage as faith in government debt dwindles.

This assertion followed comments from renowned economist Mohamed A. El-Erian, who highlighted the rise of gold and silver as preferred assets amidst geopolitical crises. In a discussion on social media platform X, El-Erian pointed out the lack of significant movement in Treasury yields despite global tensions following the recent Israeli incursion into Iran. In contrast, he noted that investments were flowing into gold and silver instead.

Horsley seized upon El-Erian’s observations to bolster his argument for bitcoin. By noting, “The opportunity for bitcoin isn’t just gold. It’s the $30T+ using Treasuries as a store of value,” he reinforced the notion of bitcoin as a modern alternative that could disrupt traditional financial systems. His thought indicates a potential generational shift in how capital might be allocated moving forward.

Continuing to build on his confident outlook, Horsley mentioned that large-scale bitcoin acquisitions by public companies are on the verge of occurring. In another post on June 12, he remarked on the many treasury companies eager to buy bitcoin but not having completed the transactions yet. He hinted at upcoming demand in the third quarter, suggesting these companies are just waiting for the right moment to fully invest.

Moreover, Horsley’s consistent positivity about bitcoin reflects an emerging trend among private owners. He noted the quiet ownership trend, asserting that while millions possess bitcoin, many remain silent about it in their social circles, though he acknowledges that this isn’t the case on dedicated bitcoin forums. He added, “Always delighted when accomplished people say it in public.”

Looking ahead, he envisions a significant price surge for bitcoin as its adoption continues to gain traction. Just a few days ago, he shared his belief that once bitcoin breaks the $130-150k barrier, it may be very hard for investors to sell, implying a scarcity of availability that could drive prices even higher. Overall, it seems that Horsley is painting a picture of a flourishing future for bitcoin as it seeks to redefine the landscape of safe-haven assets.