Fidelity macro director Jurrien Timmer bullish on Bitcoin due to loose policies

Fidelity macro director Jurrien Timmer stated that a combination of loose fiscal and monetary policy is bullish for Bitcoin. He highlighted the recent U.S. Treasury decision to buy back long-term bonds and increase short-term bill issuance, which weakened the dollar and led to significant gains in gold and Bitcoin. Timmer noted that the market is at a precarious moment regarding fiscal dominance and the potential loss of Fed independence. He emphasized that the Treasury would need to expand buybacks significantly to maintain low interest rates, which could pressure the Fed to adopt Operation Twist measures, potentially resulting in currency debasement. Timmer indicated that the loose policies are negative for the dollar and positive for gold and Bitcoin. He observed that both gold and Bitcoin had previously lagged in this year's upward trend but are now quickly closing the gap, with further room for growth.