Optimism is free, fortunately. Bloomberg Intelligence strategist Mike McGlone and BitMEX former CEO Arthur Hayes share very bullish views on their predictions for Bitcoin.
Well known for his belief in Bitcoin coming from the latest global financial turmoil out on top, McGlone argued that inflation would ultimately help Bitcoin’s “maturation” as an asset class, claiming it would even beat gold in terms of returns.
“It's unlikely for Bitcoin to stop outperforming gold, stock market amid bumps in the road as the Fed attempts another rate-hike cycle.”Bitcoin vs. macro assets chart. Source: Mike McGlone/Twitterwould be a series of key interest rate hikes, an event that delivered a modest but welcome boost to BTC price action.McGlone, however, was far from alone in his prediction.
Covering a range of macro topics, the post foresaw a restructuring of the financial system, during which Bitcoin, like stocks and commodities, would see heavy losses. Ultimately, however, both Bitcoin and gold should take a significantly more important role as stores of value in the face of declining participation in the U.S. dollar and euro standard from other governments.
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