After the upcoming crisis, Bitcoin will become one of the best assets for savings alongside gold and bonds. This was stated in an interview with Kitco News by Bloomberg Intelligence senior commodity strategist Mike McGlone.
The expert expects a ‘great pullback’ in risk assets, reminiscent of the consequences of the 2008 or 1987 crisis.
“This should already have happened. All assets are exposed to risk—from apartments in Miami and Toronto to the stock market. It’s all just beginning amid the largest inflation in the last 40 years”, the specialist said.
The strategist expects Bitcoin to emerge from the coming crisis in a new status.
“As soon as we get through this period, Bitcoin will become one of the world’s best assets for storing value, like gold and U.S. Treasuries. We are returning to deflation, and the best way to achieve it is to push prices up sharply, and then dump them”, he explained.
McGlone emphasised that Ethereum should also be considered alongside Bitcoin given the formation of new segments of the crypto market built on its base.
“Ethereum will revolutionise the world of fintech. For me the question is what stops tokenisation. […] It will not go away”, he explained.
As reported, BitMEX co-founder Arthur Hayes заявил, that Bitcoin and Ethereum prices in May had already hit a local bottom.
Earlier, JPMorgan analysts valued Bitcoin’s fair price at$38 000.
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