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However the narrative of bitcoin offsetting the devaluing dollar is even weaker than the one particular about it currently being a tech-related investment. The correlation coefficient amongst bitcoin and the U.S. Dollar Index is just -.13. Towards U.S. bonds, represented by the iShares 20+ 12 months Treasury Bond ETF (TLT), it is just -.02. In other terms, no romantic relationship at all.
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