Bitcoin Carry Trade Surges as Treasury Yields Top 7.89%

The Bitcoin carry trade has seen Treasury yields climb to 7.89%, prompting questions about whether Wall Street will rotate its attention towards the digital currency.

Investors have long viewed the carry trade as a way to profit from the difference between short-term interest rates and those offered by government bonds, but with yields on the rise, some analysts believe that Bitcoin may be poised for increased adoption.

'If Treasury yields were at 7.89% before, it's like saying we're already in a recession,' said one investor. 'It's going to make equities and other assets look less attractive.'