Bessent needs 10 year bond rates low. Market doesn’t trust they won’t devalue $USD. Just add a little Bitcoin to the 10 year+ bond issuance (not to the short duration) and voila you threaded the needle. This is Saylor at nation state level. I don’t see another reason that they are moving so fast towards Bitcoin. It is the only boat with enough horsepower to get the U.S. out of the debt whirlpool that they are in. This kicks the can down the road for the $USD but it looks like the only solution that I can see without major political or societal consequences. If Bitcoin wins or loses this solves Bessent’s dilemma.
