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Saifedean Ammous, author / academic at Self-employed, compares the returns from purchasing long-term U.S. Treasuries versus bitcoin over the past 15 years.
According to Ammous, an initial $10,000 investment in so-called 'risk-free' long-term Treasuries would yield $11,072 today. In contrast, spending $5 on bitcoin (out of a hypothetical $10,000 investment, with $9,995 spent on drugs) would result in a total value of $42,778 today.
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Ammous has previously highlighted that the 10-year Treasury yield is approaching a 19-year high, noting a significant rise since 2007 as U.S. debt to GDP has doubled (link). In another analysis, he stated that the U.S. administration has not achieved its stated aims regarding elevated 10-year yields and persistent energy prices (link). These observations provide additional context to his comparisons between Treasuries and bitcoin returns.