Cameron Winklevoss, one of the Gemini twins, has interestingly given 17 trillion reasons why you should own Bitcoin. Cameron sees the growing load of negative yield government debt as more than sufficient logic to possess the crypto coin. Posting on Twitter, the entrepreneur stated, “17 trillion dollars are currently held in negative interest bonds. Seventeen trillion reasons why you should own bitcoin.”
$17 trillion dollars are currently held in negative interest bonds. 17 trillion reasons why you should own bitcoin.
— Cameron Winklevoss (@winklevoss) October 17, 2019
The amount referred by Cameron roughly rounds up to a quarter of the global bond market, majority of it government debt with negative yields. These negative interest rates stimulate further authority borrowing and may also impose unintended outcomes. In conclusion, Winklevoss’ advice to investors is not grave as he guides them not to pay the government.
Moreover, most of the central banks still hold low-interest rates. Hence, bitcoin does look like an appealing asset to invest in.