Zach Pandl: The correlation between Bitcoin and gold has risen to over 50%, and the demand for currency depreciation hedging has returned

Zach Pandl, the head of Grayscale Research, stated that the 90 day correlation between Bitcoin and the Nasdaq 100 index has decreased from 60% to 33%, while the correlation with gold has risen to over 50%. The US federal debt has exceeded $40 trillion, and the fiscal deficit and rising US bond yields have drawn market attention to hedging assets. The maximum supply of Bitcoin is fixed at 21 million, and in an environment where the purchasing power of fiat currency is being evaluated, Bitcoin, as a scarce asset other than gold, is entering a more favorable market stage.