'Bitcoin Standard' Author Reacts After Top Economist Says 'You Lose' If You Hold Apex Crypto

Economist Robin Brooks has noted that Bitcoin BTC/USD is exhibiting some genuine diversification characteristics, albeit not in a positive direction.

What Happened: Brooks, in a tweet on Wednesday, said “a dovish Federal Reserve sent the two-year Treasury yield” tumbling in anticipation of “looser monetary policy” — a move that should have seen Bitcoin rally, yet instead, it fell.

“Heads you lose. Tails you lose. If you hold Bitcoin,” said Brooks.

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Saifedean Ammous, the author of "The Bitcoin Standard," challenged Brooks, saying, “Why don't you show us how your investment portfolio has outperformed Bitcoin over the past five years, instead of hanging on to the three hour periods your high time preference makes you believe are relevant?”

Price Action: At the time of writing, BTC was trading at $27,666, down 1.91% in the last 24 hours, according to Benzinga Pro data.

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