Odd Lots
Bitcoin Beating US Government Bonds Is a Whole Vibe Shift in Markets
The cryptocurrency is outperforming a wide variety of bond ETFs.
It’s not a contest but if it was, Bitcoin would be winning.
Photographer: Josh Brasted/Getty ImagesThis article is for subscribers only.
Want to see what’s different in markets so far in 2023? Look no further than the performance of Bitcoin versus bonds.
The cryptocurrency has surged almost 40% so far this year thanks to a general return of risk appetite and the expectation that the Federal Reserve will hit the pause button on hiking interest rates. Of course, those same factors have sparked a rally in bonds — but not enough to offset historic losses incurred last year.