Thursday, March 28

Bloomberg experts do not give up and predict the date on which the price of Bitcoin will reach 100,000


The senior commodity strategist at Bloomberg said that bitcoin will outperform all assets once the winter is over, reaching $100,000 by 2025. This clashes with the bad times the original cryptocurrency is experiencing.

Bloomberg’s Mike McGlone was recently a guest on Kitco News. He analyzed the current market and argued that Bitcoin will outperform all other assets in the world and hit $100K by 2025.

According to McGlone, the great reversal has only just begun. Today’s market reflects the most significant inflation in 40 years, the first in most people’s lifetimes. Hence Shiba Inu crashed.

However, he also argued that once this period is over, Bitcoin will skyrocket and become the best asset for long-term investors in the world.

For now, I expect Bitcoin to trade lower – I don’t know for how long – it could go down to 20,000, but I doubt it will. But whatever happens, I expect it to hit $100,000 in two years.“, he explained on the news.

To explain the reasoning for his conclusion, McGlone mentioned the adoption rate of all crypto assets, especially Bitcoin.

Based on the total market capitalization of all stocks on the planet […] cryptocurrencies are about 1% of that. A few years ago, they were 0.01%. A few years earlier, they were even less“.

He described Bitcoin as digital gold in a world that is digitizing faster and faster. Also, as your adoption dramatically increases, your offering decreases because of your code. Therefore, McGlone concludes that Bitcoin prices will only skyrocket in the next few years.

Bitcoins on the flag of China

Despite the national ban, China returns to second place in the bitcoin mining ranking

He also briefly mentioned Ethereum as a platform revolutionizing the fintech industry, providing a considerably high adoption rate.

Also Read  Lenses with microLED screens. Augmented reality glasses already have a competitor who aspires to retire them

He argued that when the bear market is over and the right supports are found, Bitcoin and Ethereum will come out ahead of all other assets because their demand for adoption is so much higher than the others.

McGlone also discussed the recent change in sentiment towards Bitcoin. He was asked why Bitcoin became a risk asset while behaving as a safe hedge against inflation for so long.

Bill Gates

Bill Gates explains why he will never invest in Bitcoin, Shiba Inu or any other cryptocurrency

McGlone responded to the question by explaining that this volatility is nothing more than a maturation period for a nascent technology and asset. He mentioned:

Bitcoin’s 260-day volatility is about the same as Tesla’s, the same as Amazon’s in 2009, and the same as gold’s in 1980“. He concluded his words by saying that once the transition period of Bitcoin is over, it will become an asset that can be used safely.

Leave a Reply

Your email address will not be published. Required fields are marked *