2024-11-13 14:51 |
US Treasury bonds, tracked via their equivalent US ETFs, have significantly underperformed Bitcoin in 2024. The TLT iShares 20+ Year Treasury Bond ETF (20+ years) declined by 8.16% year-to-date, but when compared to Bitcoin, it lost 52.16% of its value. Similarly, the GOVT iShares US Treasury Bond ETF (1 to 30 years) fell 51.88% against Bitcoin, and the VGSH Vanguard Short-Term Treasury ETF (1 to 3 years) decreased by 51.14% relative to BTC.
Bitcoin vs US Treasuries (Source: TradingView)These ETFs represent different maturities of US Treasury bonds: TLT focuses on long-term bonds, GOVT covers a broad spectrum of maturities, and VGSH concentrates on short-term bonds. The across-the-board underperformance highlights how Bitcoin has outpaced traditional government debt instruments this year.
Bitcoin’s appreciation, especially after its halving event in April and a surge following the November election, has widened the performance gap. While US Treasury ETFs experienced modest declines of 8% on their own, their value depreciated substantially when measured against Bitcoin.
TLT began to decline in September in the lead-up to the US Election but declined much further against Bitcoin as it surged to almost $90,000. Prior to Bitcoin’s November ascent, Treasuries were down around 36% against BTC.
This trend emphasizes a shift in investment trends, with digital assets gaining traction over traditional fixed-income securities. During 2024, investors holding US Treasury ETFs faced significant opportunity costs compared to those invested in Bitcoin.
The post US Treasury bond ETFs lose half their value against surging Bitcoin appeared first on CryptoSlate.
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