Bitcoin competes with gold and not Treasuries

The US Treasury department came an interesting conclusion today.

They said bitcoin competes with gold and not the dollar or US Treasuries.

Here's the statement:

(Source: https://x.com/BitcoinMagazine/status/1865402980637306893/photo/1)

That is very good news for bitcoin from a regulatory standpoint.

Bitcoin not competing with the dollar or treasuries will allow it to continue to grow with the government feeling like they need to step in and stop it.

That is great news going forward.

My guess is they are right, for now.

Eventually it may compete with the dollar.