Investment Strategist Discusses Bitcoin’s ‘Entering Unstoppable Maturation Phase’ – Says Price Should Continue Rising Cryptocurrency

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Bloomberg Intelligence’s senior commodities strategist said bitcoin “could enter an inexorable phase of its migration to the mainstream.” Additionally, the cryptocurrency may also “enter an unstoppable maturation phase,” the strategist added, expecting the price of bitcoin to continue rising over time.

Bitcoin’s “Unstoppable Maturation Stage”

Mike McGlone, senior commodities strategist at Bloomberg Intelligence, outlined his outlook for bitcoin this week. Citing growing demand, increased adoption and regulation, he tweeted on Wednesday:

Bitcoin may be entering an inexorable phase of its mainstream migration, and at a relatively discounted price.

In another tweet, he noted the decline in bitcoin supply, adding, “The definable decline in bitcoin supply is unprecedented globally, and so prices should continue to rise over time. , unless something unlikely reverses demand and adoption trends, given the laws of supply and demand.”

He also tweeted:

Bitcoin may enter an unstoppable maturation phase.

The strategist explained, “The fact that Bitcoin did not exist in October 2007, when WTI crude oil first reached its current price of $84 a barrel, may indicate the nascent technology’s appreciation advantage. .”

“In a world rapidly going digital, benchmark crypto is gaining in value as a unique alternative asset and global collateral that does not engage anyone’s liability,” McGlone continued.

“It makes sense that one of the best performing assets of the past decade would fall with the most aggressive tightening from the Federal Reserve in about 40 years, but demand and adoption are up, supply is down and a high relative discount point on risk/reward favorably,” the Bloomberg Intelligence strategist said, concluding:

Returning to its propensity to outperform most assets may be a matter of time as widespread adoption progresses and adaptive changes in US accounting standards give it a boost.

Do you agree with Mike McGlone? Let us know in the comments section below.

Kevin Helms

An economics student from Austria, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His interests include Bitcoin security, open source systems, network effects, and the intersection between economics and cryptography.

Image credits: Shutterstock, Pixabay, Wiki Commons

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