Macro investor Luke Gromen says that in the coming years, Bitcoin (BTC) and risk assets will benefit from a souring sentiment in US long-term bonds.

The investor says that because of these pressures, the iShares 20+ Year Treasury Bond exchange-traded fund (TLT) is signaling weakness against risk assets and inflation hedges.

“There’s a $130 trillion global bond market that will need to run into a $65 trillion stock market which I think is happening. [There’s a] $14 trillion gold market and a $1.3 trillion Bitcoin market for safety from that inflation. And you’re seeing that in the charts

So my view is in the secular inflation that we are in the early days of, you’ll see stocks up in dollar terms [but] down in gold and Bitcoin terms. Basically Argentina with US characteristics.”