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- Bitcoin could climb by $20,000 if a US default happens, Standard Chartered's Geoff Kendrick said.
- Not every crypto would act similarly, with some behaving more like equities, he told Insider.
- "So actually, the optimal trade would probably be long bitcoin, short ethereum."
With the looming debt ceiling crisis showing no signs of a resolution, both bond and equity markets have become jittery.
But while some investors are fearful of a historic default, one asset could potentially rise through such a situation: Bitcoin.
Describing a US default as a "low-probability, high-impact event," Geoff Kendrick, head of FX research at Standard Chartered, said it may cause the bitcoin to jump by about $20,000, representing an increase of 68% from current levels.