Bitcoin is benefitting from, among other factors, a weaker US dollar following the weekend.
Moody’s downgrade:
- Friday bombshell: Moody’s downgrades US credit rating
Bessent isn’t concerned. Given he oversees issuing US Treasuries, he probably should be. Downgrades will not lower the cost of issuing debt!
- “If we go back to your initial question on the Moody’s downgrade, who cares? Qatar doesn’t. Saudi doesn’t. UAE doesn’t”
Gold is higher too. Also EUR, JPY, AUD, NZD, CAD, GBP … the list goes on.
