In the case of a U.S. default, retail investors favor bitcoin over the dollar…
That’s according to a recent Bloomberg Markets Live Pulse survey. The survey asked investors what they would buy if the U.S. hit its debt ceiling.
Gold topped the list, with 51.7% of professional investors and 45.7% of retail investors preferring the yellow metal. Treasurys came in second at 14% and 15.1%, respectively.
Surprisingly, bitcoin came in third (7.8% and 11.3%, respectively)… ahead of the U.S. dollar (7.8% and 10.2%, respectively).
On Thursday, the U.S. Senate voted to raise the debt ceiling limit, meaning it has passed both houses of Congress.
The bill is now headed to the desk of President Joe Biden for his signature.
The debt ceiling is the statutory limit on the amount of debt the U.S. Treasury can have outstanding to pay its current obligations. The Treasury Department had warned that the government could default on its debt by June 5.
The debt limit crisis is now averted… But the fact that many investors chose bitcoin over the U.S. dollar in the event of default demonstrates the crypto’s staying power.
And Daily editor Teeka Tiwari believes right now is a phenomenal buying opportunity in bitcoin.
In fact, Teeka believes this is the FINAL Crypto Winter bear market of this size we’ll ever see.
According to Teeka, there’s a new development brewing beneath the surface that’s set to drive crypto user growth to 5 billion by 2030.
Yet as this new development drives crypto firmly into the mainstream, the crypto market will begin a maturing process as we move out of the current bear market.
The market will start to trade more like the stock market… It will become less volatile…
And the days where you can get in on a foundational crypto project that will shape our future for pennies on the dollar… Well, they’ll be gone forever.
On Wednesday, June 7, at 8 p.m. ET, Teeka will fill you in on the details of this new crypto development… as well as a special sub-sector of cryptos that’s springing out of it.
These cryptos are set to lead crypto’s next bull run… handing those who get in now the possibility of securing the biggest gains of any cryptos.
Plus, when you become a VIP attendee for the event, you can claim two bonus reports:
BIG T’s SECRET: How to Make an Extra $1.4 Million in the Next Crypto Bull Market.
This 33-Cent Pick Will Ride AI and “Crypto’s New Development” to Breathtaking Gains.
Teeka will also grant you access to a VIP “ask me anything” session. All you have to do is click here to register. (Please note we can’t give personal financial advice.)
Editorial Director, Palm Beach Daily