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Macro and energy analyst Doomberg said in an interview with Bitcoin Magazine that U.S. pressure on allies to hold Treasuries is fundamentally changing how global central banks calculate their reserve-asset portfolios.
Doomberg said that in a liquidity crunch, investors sell the assets that can be offloaded immediately in the market rather than the assets they want to keep, adding that gold’s short-term weakness seen since late February also reflected unavoidable selling to secure liquidity. Over the longer term, however, Doomberg said deeper political and geopolitical dependence in foreign-exchange reserves is likely to spur demand for “Neutral Reserve Assets” that are not controlled by any single country. Doomberg said gold and Bitcoin could emerge as key assets to replace eroding trust between states and enter an “Extremely Bullish” long-term phase. Doomberg added that younger generations more familiar with the internet are increasingly likely to adopt Bitcoin over gold as a practical store of value.