The United States is the issuer of the safe asset to the world, a role that the country gradually assumed from the United Kingdom following the Great War (1914-1918). The safe asset is defined as an asset that preserves its value under any circumstances, is highly liquid, and can be pledged as collateral with no questions asked. The safe asset is information-insensitive within its native and friendly domains. For an asset to be universally information-insensitive, across friendly and hostile domains, it must be trust-insensitive. It is argued that two recent developments have lent import to the concept of the zero-trust asset (ZTA), which is an asset not subject to expropriation, be it by opportunistic inflation or by confiscation. Zero-trust assets can be produced only by a technology built on a zero-trust architectural design. Bitcoin is identified as the only existing asset that meets this condition in an unqualified manner. Unlike the safe asset, the supply of bitcoin has an upper bound, turning perfectly inelastic once the constraint of 21 million bitcoins has been reached. By implication, barring the arrival of alternative zero-trust assets, the price of bitcoin must keep rising in the safe asset’s unit of account at the growth rate of bitcoin’s global asset allocation. This growth rate is determined by the general growth of global assets in the safe asset’s unit of account and the relative increase in the zero-trust asset in this allocation. Importantly, in the presence of inelastic supply, asset allocation will drive return, creating a feedback loop that introduces asset price instability. Speculators, who are agents that invest based on Keynesian higher degree beliefs, will anticipate this feedback loop and its potential for an asset price bubble.