Bitcoin will be one of ‘best assets on Earth’ after inflation subsides, says commodity strategist
A cold chill has settled over the cryptocurrency market, with the flagship digital asset Bitcoin (BTC) falling around 35% since January. As a result, many people are left wondering how deep into a crypto winter the market is and whether or not there are signs of spring.
Speaking with Kitco News, senior commodity strategist at Bloomberg Intelligence, Mike McGlone, opined that once this bear market in risk assets subsides and valuations recover again, cryptocurrencies are going to outperform all other asset classes.Previously McGlone had stated that Bitcoin is on track to hit $100,000 by 2025, and when questioned over what gets investors out of the crypto winter and what needs to happen to spark a rally.
