Bloomberg senior commodity strategist Mike McGlone urged gold investors to buy Bitcoin. The famous analyst’s price predictions for Bitcoin cryptocoin.com compiled for our readers.
“People are at greater risk if they don’t have Bitcoin in their gold portfolio”
Mike McGlone, a senior commodity strategist at Bloomberg, who previously accurately predicted the $10,000, $12,000, and $50,000 levels in Bitcoin, urges gold investors to diversify their portfolios to include Bitcoin to avoid significant losses in the long run. . In a recent interview with popular YouTuber Scott Melker, Mike McGlone says gold investors shouldn’t put all their eggs in one basket as the global economy descends into a deflationary recession.
The analyst notes that although the asset class is expected to gain the most from Russia’s invasion of Ukraine, it has performed poorly and expressed disappointment with the current gold price. The analyst states that gold, which is currently traded around $ 2,000, should exceed the $ 3,000 level, considering that many people see it as a shelter in the ongoing war, and makes the following assessment:
Most money managers on the planet who hold gold forever are at greater risk if that gold portfolio does not have Bitcoin in it. It’s shocking to see people put all their eggs in a basket full of gold.
Will Bitcoin hit $100,000 in the long run?
The analyst says that BTC is only responding to the recession currently plaguing the global financial industry, commenting on Bitcoin’s price drop this year. For Mike McGlone, Bitcoin shows a different strength as the asset class moves from risk-free to risk-free.
However, Mike McGlone seems confident that the world’s largest cryptocurrency will bounce back even stronger after the widespread acceptance that it could exceed $100,000 in the near future.
Mike McGlone’s $100,000 BTC price prediction echoes a similar view made by Nayib Bukele, president of the Bitcoin-friendly country of El Salvador. The president of El Salvador is confident of the $100,000 price for Bitcoin, thus encouraging the country to embark on a buying spree for the cryptocurrency.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram and YouTube join our channel!
Disclaimer: The articles and articles on Kriptokoin.com do not constitute investment advice. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, asset or service in this article.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.