Bloomberg Intelligence Senior Strategist Mike McGlone said that once the current hyperinflationary macroeconomic environment has passed, Bitcoin will trade at $100,000 by 2025.
Speaking in an interview with Kitco News on September 17, McGlone stated that the momentum for Bitcoin’s growth will come from increased adoption and demand.
“For me, it’s only a matter of time before Bitcoin reaches $100,000. The basic truth is that adoption and demand are on the rise unless you expect it to change, which I don’t think so. He will continue to appreciate; it’s only a matter of time now,” said McGlone.
Cryptocurrencies will appear in the future
He noted that Bitcoin and cryptocurrencies in general are likely to become the leaders of all asset classes in the current environment. According to McGlone, cryptocurrencies have the advantage of being the fastest growing technology.
At the same time, McGlone compared the current state of the market to the dot-com bubble of 2000, when some assets peaked and others collapsed. However, he noted that Federal Reserve policy is likely to play an important role in ending current conditions.
“As a result, cryptocurrencies are the fastest horse in the race. They have rapidly developing technological advantages and will continue to increase in value as we look to the future. It’s like the bottom of 2000 and actually worse than 2000 because the bond market was trading really well back then,” he added.
Source: Port Altele
John Wilkes is a seasoned journalist and author at Div Bracket. He specializes in covering trending news across a wide range of topics, from politics to entertainment and everything in between.