According to Bloomberg strategist Mike McGlone, Bitcoin will be seen as a global and safe asset in the medium term. Now only gold has such a status.
He believes that institutional investors will hold the lion’s share of their capital in cryptocurrencies and precious metals.
The strategist has recently predicted that the price of Bitcoin will reach $100,000. According to his estimates, the digital currency will add in value as trust in fiat money, on the contrary, will decline.
He has stressed:
“I think it’s just a matter of time before Bitcoin hits $100,000. Demand for cryptocurrencies is growing and its supply is shrinking. But I am not against gold, and we will see how bitcoin will become its competitor.”
