Bitcoin is the best future asset says Commodity Analyst

The cryptocurrency market has been in a deep freeze since January, with the flagship digital asset Bitcoin (BTC) plunging by roughly 35%. A lot of people are questioning how far the market has fallen into a crypto winter and whether or not spring is on the way.

In an interview with Kitco News, Mike McGlone, a senior commodity strategist at Bloomberg Intelligence, predicted that cryptocurrencies will actually outperform all other asset classes after the risk asset bad market fades and valuations recover.


When asked what would pull investors out of the crypto winter and what has to happen to trigger a rally, McGlone previously indicated that Bitcoin is on track to reach $100,000 by 2025.

The brilliant commodity analyst believes that the big reversion is just getting begun. It may be similar to the aftermath of 1929, or it could be similar to the aftermath of 2008, or it could be similar to the aftermath of the 1987 disaster. The longest period of inflation in most people’s lives is just beginning.

Mike McGlone believes that after we get past that phase, people will recognize that Bitcoin is one of the best assets to keep on the globe. Now, how that plays out, he says he is not sure but for future Mike McGlone believe gold, US long bonds, and Bitcoin will be some of the finest assets to possess when we return to deflation.

Indeed, Bitcoin’s failure to respond to inflation and other macroeconomic factors as most proponents of the cryptocurrency predicted is damaging the cryptocurrency’s long-term prospects.

“It’s just a question of time,” he says, “but in terms of things I watch like commodities and assets, they’re just in the early stages of reversion, and bitcoin should be one of the winners.”

“I believe the top performing assets will be gold, US long bonds, and Bitcoin,” he concluded.

Notably, the commodities expert believes that all of the assets will eventually break out.

According to McGlone, gold will break out once markets see that long bond yields have peaked and the Fed’s hike expectations have been put on hold, which he predicts would coincide with a lower stock market.

Only then will gold and bond prices reverse, rising, as he expects, and he expects Bitcoin to do the same.

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