Great answer! If the government can fix its fiscal policy the debt can be covered by tax receipts thus protecting your principal. Hosting mining is super risky but it’s reasonable bet that BTC will be the collateral the world wants.
Absolutely, I don't see any country offering a positive return holding their 10 year as a passive holder collecting your coupon payments.
A miner also you can sometimes reclaim some of your capex back, should you feel the risk is too you high, if you sell the miner
Will be interesting to see how those bitcoin-backed bonds from El Salvador would do long-term once the market matures.
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