Your 60/40 Portfolio May Be 100% Exposed to a Dying Dollar, Bitwise Says

Bitwise warns that a traditional 60/40 stock-and-bond portfolio is effectively 100% exposed to the U.S. dollar because all returns are measured in and subject to dollar purchasing power. With growing fiscal deficits, monetary expansion, and attendant risk of dollar depreciation, Bitwise argues this creates concentrated currency risk for investors. They recommend adding Bitcoin as an uncorrelated, non-sovereign store of value and potential hedge against dollar debasement, implying Bitcoin could materially reduce portfolio exposure to inflation and FX risk.