Mike McGlone: ​​”Bitcoin will become a global asset on a par with gold”

Bloomberg Senior Analyst Mike McGlone has repeatedly said that the price of Bitcoin will reach $100,000 in the coming years. Now he has said that BTC will stand next to gold as a global asset.

During an interview with Stansberry Research’s Daniela Cambone, Mike McGlone emphasized that Bitcoin is “simply doomed” to growth due to the increasing adoption of cryptocurrencies in the world, as well as limited supply. And it may well become a global reserve asset on par with gold.

“I think it’s only a matter of time before the price of bitcoin reaches $100,000. It’s just a consequence of the balance of supply and demand – the demand for bitcoin continues to grow, while the supply decreases. I’m not against gold, but we see bitcoin becoming its competitor as a global digital collateral asset,” Bloomberg analyst said.

McGlone also noted that the cryptocurrency industry continues to develop rapidly. Now stablecoins pegged to the US dollar are on the rise. In terms of trading volume, they have become the largest type of assets in the sector. However, Bitcoin remains the center of the entire digital asset industry.

As for the immediate prospects of the first cryptocurrency, McGlone believes that the BTC rate will soon be fixed above $20,000. Earlier, the analyst said that in the near future, the Bitcoin rate would grow and surpass most assets by the end of the year.

Source: Bits

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