- Mohamed A. El-Erian thinks Bitcoin is becoming the “Flight to Safety.”
- Bitcoin is becoming the “Flight to Safety,” says chief economic advisor of Allianz
- According to EL-Erian, the U.S. Treasury has never functioned as a safe haven.
Bitcoin is becoming the “Flight to Safety,” according to Mohamed A. El-Erian, Allianz chief economic advisor and former CEO of PIMCO. El-Erian said in a recent CNBC interview that Bitcoin is replacing the Long U.S. Treasury, which has always been seen as the flight to safety or quality.
The long US treasury has always been seen as a flight to safety or quality. This isn’t so much the case now. #Bitcoin is slowly becoming the flight to safety. pic.twitter.com/KLyvRTGi9U— Crypto Caesar (@crypto_caesar1) October 31, 2023
During the interview, the CNBC presenter asked El-Erian if the U.S. Treasury will continue to play the role of a safe haven for investors, considering ongoing geopolitical developments around the globe.
The economic advisor responded by acknowledging that while the U.S. Treasury could still function in that role, things may change in the future. According to him, before the conflict started in t…
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