Bank of America strategist: U.S. government debt increasing by $1 trillion every 100 days may be one of the reasons for the rise in gold and Bitcoin
Bank of America strategists recently said that U.S. government liabilities increase by $1 trillion every 100 days, which helps explain why the prices of assets such as gold and Bitcoin are near all-time highs. Strategists led by Michael Hartnett say the pace of debt inflation is accelerating. They estimate that it would take just 95 days to go from $34 trillion to $35 trillion. The consequence for markets, BofA said, is that trades tied to "bond depreciation" are proving attractive as gold and Bitcoin have risen recently.
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