nobody on Nostr: The actual CPI is of course much higher than 3-4%, but a 5% essentially risk free ...

The actual CPI is of course much higher than 3-4%, but a 5% essentially risk free asset (the 2 yr treasury if held to maturity) does provide competition (from those angry about inflation) for bitcoin, which has more risk. Long term bitcoin moons, but short term interest rates provide headwinds (unlike when interest rates were suppressed to 0%, like they were from 2008-2021).