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MLB Team Washington Nationals Partners With Terra Blockchain Community, Ballpark Plans to Accept UST

On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
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Hedge Fund Manager Says Sell-off in US Treasury Bonds a Threat to ‘High-Flying Assets’ Like BTC

Hedge fund manager Bob Prince has warned that the recent sell-off in the U.S. government bond market could accelerate and this could “threaten high-flying assets” like cryptocurrencies and blank cheque companies. Prince, who is the co-CIO at Bridgewater Associates, links this looming downturn in the $21 trillion Treasury market to the improving economy as well, as growing inflation pressurizes.

Hedge Fund Manager Says Sell-off in US Govt Bonds a Threat to 'High-Flying Assets' Like BTC

These two factors according to Prince could “push the Federal Reserve to consider reeling back its stimulus measures.” Still, as one report explains, the Federal Reserve policymakers are “brushing off the Treasury sell-off as a healthy reaction to the budding U.S. economic recovery.”

However, Prince asserts that this “surge in cryptocurrencies like bitcoin is a manifestation of that environment created by the loose monetary policy of the US central bank and stimulus provided by the U.S. Congress.”

Meanwhile, the report says U.S. inflation expectations have picked up this year, hitting the price of government bonds and pumping up their yields. This in turn has already “hit fast-growing technology companies such as Netflix, Amazon, and Tesla since their elevated valuations have been underpinned by low rates.”

Hedge Fund Manager Says Sell-off in US Govt Bonds a Threat to 'High-Flying Assets' Like BTC

In the meantime, the same report also explains that foreign investors, one of the biggest buyers of Treasuries after the Fed, have already shown less appetite for U.S. sovereign debt as their losses have piled up.

The yield on the 10-year Treasury recently climbed above 1.6 percent from 0.9 percent at the end of last year. This according to Ice Data Services, “has resulted in the worst quarter for Treasury investors in more than four years.”

Do you agree with Prince’s classification of cryptocurrencies as high-flying assets? You can share your views in the comments section below.

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