Bloomberg senior commodity strategist Mike McGlone urged gold investors to buy Bitcoin. We have compiled the famous analyst’s price predictions for Bitcoin for the readers of Kriptokoin.com.
“People are at greater risk if they don’t have Bitcoin in their gold portfolio”
Previously, he accurately predicted the $10K, $12K and $50,000 levels in Bitcoin, on Bloomberg Mike McGlone, a senior commodity strategist, 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.
Analyst notes that although the asset class is expected to gain the most value from Russia’s invasion of Ukraine, it has performed poorly and expresses disappointment in the current gold price. The analyst states that gold, which is currently traded at 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, this gold He is at greater risk if he does not have Bitcoin in his portfolio. 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 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.
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