Zach Pandl Says Bitcoin’s Correlation With Gold Rises as Investors Seek Scarce Assets

Zach Pandl said Bitcoin’s 90-day correlation with the Nasdaq 100 has fallen from above 60% to about 33%, while its correlation with gold has risen from near zero at the start of the year to above 50%. According to Odaily, he said investors are refocusing on Bitcoin’s scarcity and store-of-value role as the “debasement trade” returns, with U.S. federal debt topping $40 trillion and long-term Treasury yields moving higher. Grayscale said Bitcoin, created after the 2008 financial crisis, has no central issuer and a fixed supply cap, and can serve alongside gold as a scarce and liquid alternative asset. Grayscale added that Bitcoin may be entering a more favorable market environment.