Viewpoint: The surge in bond yields may trigger a Bitcoin supercycle

By: rootdata|2026/05/25 20:45:01

BitMEX senior research analyst Shang Wu stated that the continued rise in government bond yields signals an impending "structural" shift, which will create a "super cycle" for Bitcoin's price increase.

Shang Wu pointed out that under the pressure of the $39 trillion U.S. debt and massive spending on AI infrastructure, central banks will ultimately respond through currency devaluation and invisible liquidity injections. At that time, investors will sell off devalued traditional assets and turn to allocate Bitcoin, a scarce asset that cannot be inflated.

Last week, the yield on the 30-year U.S. Treasury bond broke 5.14%, while the yield on Japan's 10-year government bond reached 2.8%.

He believes that while short-term volatility is inevitable, in the long run, this will be the biggest structural benefit for Bitcoin.

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