In 2024, US Treasury bonds have significantly underperformed Bitcoin. All major US Treasury ETF indexes, including those focused on short-term, medium-term, and long-term bonds, have lost a substantial portion of their value when compared to Bitcoin. This highlights Bitcoin’s outperformance of traditional government debt instruments.
The underperformance is particularly evident after Bitcoin’s halving event in April and its surge following the November election. While US Treasury ETFs experienced modest declines themselves, their value depreciated substantially when measured against Bitcoin. This trend emphasizes a shift in investment trends, with digital assets gaining traction over traditional fixed-income securities.
