Mohamed A. El-Erian, the Chief Economic Advisor of Allianz and former CEO of Pacific Investment Management Company, said that Bitcoin is becoming a "safe flight". Bitcoin is replacing long-held U.S. Treasury bonds, which have long been seen as a safe haven for safety or quality. Considering the continued development of global geopolitics, although the U.S. Treasury Department can still play this role, the situation may change in the future.
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Allianz Chief Economic Advisor: Bitcoin is becoming a ‘safe flight’
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