Bankless thinks TLT, the long-term Treasury bond ETF, is a sell because the incoming Fed Chair Kevin Walsh is expected to hold firm on getting inflation all the way down to 2% with no wiggle room, meaning interest rates stay elevated longer and bond prices keep falling.
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Bankless is bullish on Bitcoin because governments and central banks will inevitably print more money over time, eroding the value of cash, and the only real danger is panic-selling during the temporary period of tighter monetary policy before that money-printing resumes.
Bankless thinks gold is a buy because central banks around the world are expanding the money supply and slowly eroding the value of paper currencies, which historically drives investors toward hard assets like gold even if higher interest rates create some short-term drag on the price.