According to @Andre_Dragosch, the worst bear market in US Treasuries alongside the post-Ukraine weaponization of USTs has accelerated a rotation into hard assets, with gold’s share of international reserves at multi-decade highs (source: @Andre_Dragosch). He states Bitcoin’s correlation to US Treasuries has collapsed to record lows while global banks, sovereign wealth funds, and institutions disclosed meaningful allocations to Bitcoin ETFs via 13F filings, signaling growing institutional adoption that matters for liquidity and price discovery (source: @Andre_Dragosch). He highlights three trading-relevant advantages of BTC versus gold in a bond-focused portfolio: lower interest-rate sensitivity, tendency to outperform gold on down days for Treasuries, and reduced portfolio volatility and drawdowns when small BTC allocations are added to sovereign bond exposures (source: @Andre_Dragosch). He adds that while gold remains the stronger hedge versus equity risk, BTC is increasingly treated as an alternative reserve asset and a sovereign bond hedge, with examples including discussions by the Czech National Bank on BTC as a diversifier, Brazil’s proposal for a Strategic Bitcoin Reserve, and a US Executive Order that set a framework for digital assets (all as reported by @Andre_Dragosch) (source: @Andre_Dragosch). Trading takeaway: monitor BTC–UST correlation regimes, track 13F-reported ETF flows for positioning signals, and consider small BTC sleeves as a hedge to duration drawdowns in sovereign bond portfolios while maintaining gold for equity-hedge characteristics (source: @Andre_Dragosch).