Bitcoin's High Hurdle: $44 Billion Bond Auction

The US government sold $44 billion of seven-year debt on July 28, attracting bids worth $2.49 for every dollar offered.

The auction's yield was 4.473%, a substantial increase from June's auction at 4.260%.

This higher yield presents a hurdle for Bitcoin, which offers no comparable promise of contractual interest or guaranteed return.

Investors can earn nearly 4.5% by lending money to Washington for seven years and collecting regular interest.