According to Hunter Horsley, CEO of digital asset investment firm Bitwise, Bitcoin (BTC)’s total addressable market includes a $16 trillion gold market and a $30 trillion U.S. Treasury, which individual bondholders and institutions use as valuable stores.
“Money isn’t the only opportunity for Bitcoin, it’s more than $30 trillion using the Treasury as a valuable store,” the CEO wrote Friday.
Horsley had responded to an earlier post from economist Mohamed El-Erian. There, economists warned analysts that the US Treasury flow is no longer a barometer of investor flights to safety.
Instead, the economists said analysts should look at the flow to gold and silver, a traditional hedge against currency inflation, to show where investors are seeking safe shelter from market risk.
Bitcoin continues to attract investors’ attention as it emerges as a valuable asset with alternative savings technology and gold-like properties that can curb geopolitical disruptions, macroeconomic shocks and risk-on markets.
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Geopolitical tensions and the adoption of outrageous government spending fuel Bitcoin
Geopolitical tensions and excessive spending by the government are driving Bitcoin adoption as market participants seek to protect the value of their savings from the corrosive effects of inflation and the risks of counterparties inherent in centrally controlled FIAT currency.
In the US, President Trump’s “Big Beautiful Bill” is estimated to add up to $2.5 trillion in deficit spending.
https://www.youtube.com/watch?v=ktgu8x6pilw
Critics of the bill, including Elon Musk, former director of the Department of Government Efficiency (DOGE), have said that contrary to President Trump’s goals, the current budget is not sustainable and will further erode America’s long-term financial health.
In April 2025, the bond market responded to ongoing macroeconomic uncertainty in Trump’s trade tariffs and rising U.S. debt levels as investors dropped US government securities.
The market has skyrocketed bond yields as investors demanded higher interest rates to compensate for the risk of increased lending to the US government.
“The US financial situation is bad, and Trump’s idea to improve it just shocked the bond market, and it will require serious things to settle down again.”
This article does not include investment advice or recommendations. All investment and trading movements include risk and readers must do their own research when making decisions.
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