Bloomberg Surveillance · Friday, September 25, 2026
Darius Dale views cryptocurrencies like Bitcoin as a protection against monetary debasement. He contrasted this with stocks, which capture productivity, and gold, which protects against financial repression, suggesting crypto's value emerges when there's a significant decline in the value of fiat currency.
“Bitcoin, cryptocurrencies broadly protect your portfolio from monetary debasement. We've been in a modest period of monetary debasement up and through June.”
“It's unlikely that we see any material monetary debasement until we see either an expansion of treasury buybacks with TJ funding or reserve management purchases or yield curve control from the Federal Reserve, which we think is coming if we're right on our fair value model in the 10-year.”