- Crypto firm founder Vance Spencer said the U.S. stock market is on the edge of a bull market.
- Over $6 trillion in treasury bills are expected to flow into the U.S. stock market.
- A rise in the stock market may also increase spot Bitcoin ETF prices.
In a recent tweet on X (formerly Twitter), Vance Spencer, co-founder of the cryptocurrency firm Framework Ventures, suggested that the U.S. stock market may be closing in on a new bull market.
The founder noted in the tweet that there are currently around $6 trillion in treasury bills. Most of that is expected to move back into the stock market as investors try to cash in on the predicted rise.
According to the founder, this will happen once the S&P 500 – an index that tracks the 500 largest stocks in the U.S. – hits a new all-time high. Spencer stated that the index is less than 0.5% away from this new all-time. Once that happened, the founder said, “There will be an acknowledgment we are in a new bull market.”
Importantly, the founder said the fear of missing out on a bullish rise will convince investors to move their treasury bills into the stock market. “It’s hard to convey how being unallocated w…
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