Bonds and money should go to 0. That’s $447T of monetary premium that Bitcoin will eat, or ~$21.3M per coin of marketcap. A couple hundred trillion more from the other buckets too. Most people, even most Bitcoiners, are not running this numbers. It’s very simple math.

From what I understand, around half of all US bonds are being held by hedge funds in the Cayman Islands to be used in extremely high leverage basis trades. To my mind thats worse than no utility