You’re right treasuries are not risk free, but their interest payments are as reliable as anything in the fiat world, for whatever that’s worth. It’s a baseline for fiat risk.
Everything in life comes with risk, even holding bitcoin in self-custody. To think that for some reason treasury bonds provide "risk-free" returns is absolutely delusional. Not only that, it is extremely dangerous.
https://tftc.io/martys-bent/issue-1331-risk-free-doesnt-exist/
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