Bloomberg’s chief commodity strategist Mike McGlone, a crypto-currency Bitcoin is no longer speculative, but the fact that the return on the assets applicable to a reserve on Twitter for sharing.
McGlone, the second largest crypto-currency Bitcoin I Etherea ‘he claimed would follow if u could reach $ 100,000.
Critical weekend for Bitcoin
Mike McGlone cites the Bitcoin 2021 conference that took place over the weekend in Miami as a very important event for Bitcoin and the community.
McGlone described the event as “Woodstock-like”, referring to the massive music festival that took place August 15-18, 1969, attracting over 400,000 visitors. This festival was an important event for rock-n-roll and hippie culture in the western world.
The event that the expert tweeted supported Bitcoin mainstream adoption. It also confirmed Bloomberg’s view that BTC is no longer speculative but a global reserve asset.
Woodstock-Like #Bitcoin 2021 Miami Backs Mainstream-Adoption View: The June 3-5 Bitcoin 2021 conference further validated our view that Bitcoin has transitioned to a global digital-reserve asset and away from being a speculative crypto. pic.twitter.com/TjL7xJnO7p
— Mike McGlone (@mikemcglone11) June 8, 2021
“Ethereum can help Bitcoin reach $100,000”
The charts shared by McGlone show factors that could help Bitcoin reach the $100,000 price in the near future.
The first is a classic – above all the growing supply of fiat currencies and the shrinking Bitcoin supply against the USD supply. Recently, the US Congress approved a $900 billion stimulus package in late December.In early March, a $9 trillion package was also adopted to stimulate the economy.The factor mentioned in the second chart is that Bitcoin could reach $100,000 if it follows the growth pattern of Ethereum.
In the last twelve months, Bitcoin has risen 4x while the second-largest crypto has risen by over 1,000 percent. Ethereum ‘s market cap is currently $291,283,646,840 – that’s roughly half the market cap of Bitcoin.Recent reports in McGlone, Ethereum Bitcoin with a market value basis due to more powerful use cases and could be passed , he said.