Baek Jung

Bitcoin will transform from a risk asset into a digital real asset as global trust in sovereign bonds erodes and central banks engage in stealth QE. Bitcoin's scarcity (stock-to-flow ratio 124 vs gold's 60), smaller market cap (1/15 of gold), and upcoming legal catalysts (Clarity Act, ARMA Act) will drive massive demand over the next two years, positioning it as a premier safe-haven asset.

Long-term US Treasury yields (especially 30-year) are rising simultaneously across developed countries without clear reason, indicating a structural loss of trust in sovereign debt. The Fed will be forced into stealth quantitative easing to avoid a bond market crisis, but yields will continue to rise over the next two years as the market repudiates financial assets. This makes long-term US Treasuries unattractive and likely to decline in price.