Bitcoin (BTC) Will Be a Top Asset on Earth Once Inflation Declines, Says Bloomberg Strategist


Mike McGlone, a senior commodity strategist at Bloomberg Intelligence, has recently made an optimistic comment regarding the prospect of Bitcoin (BTC), the largest cryptocurrency by market capitalisation.

While speaking with Kitco News, McGlone stated that the digital asset class could overcome its current downturn and become one of the best performing cryptocurrencies in the world.

During the interview, he also gave an opinion on what would get investors out of the crypto winter and what has to boost the market.

“I think what’s going to happen is the great reversion is just getting started. It might be like the aftermath of 1929, I think it will be like the aftermath of 2008, maybe like after the 1987 crash. It’s so overdue. The greatest inflation in 40 years in most people’s lifetime is just starting.” He stated. 

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Bitcoin Will Overtake Gold and Bond

Although he believes that gold and bonds will later break out, he expects to see Bitcoin outperforming all of them.

He wrote, “I think the best performing assets will revert to gold, U.S. long bonds and Bitcoin will perform the best.”

Meanwhile, McGlone had predicted that Bitcoin is on track to hit $100,000 by 2025;

“Bitcoin Bull and $50,000 Support vs $100,000 Resistance in 2022. Bitcoin is approaching 2022 in what we view as simply a bull market. The nascent technology/asset is experiencing increasing adoption vs declining supply and showing signs of maturation.”

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