A major Danish pension fund is signaling serious doubts about US Treasury creditworthiness, moving to liquidate its positions. The fund's assessment is blunt: "The US is basically not a good credit." This isn't just pension fund noise—it reflects growing institutional skepticism about America's fiscal trajectory. Rising deficits, debt levels, and political gridlock are pushing sophisticated money managers to reassess their exposure to USD-denominated assets. For crypto market participants, this matters. When traditional reserve assets face credibility questions, alternative stores of value gain relative appeal. The signal here isn't isolated either. If other large institutional investors follow suit, we could see meaningful shifts in capital allocation away from Treasuries and into other assets—potentially including diversified holdings in crypto and on-chain finance. Keep an eye on whether this trend accelerates.