{"id":39676,"date":"2021-03-27T09:58:54","date_gmt":"2021-03-27T07:58:54","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=39676"},"modified":"2025-08-30T10:47:36","modified_gmt":"2025-08-30T07:47:36","slug":"bloomberg-strategist-bitcoin-could-reach-400000","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bloomberg-strategist-bitcoin-could-reach-400000\/","title":{"rendered":"Bloomberg Strategist: Bitcoin Could Reach $400,000"},"content":{"rendered":"<p>Mike McGlone, senior commodity strategist at Bloomberg Intelligence, said Bitcoin is transforming into a low-risk reserve asset and predicted its rise to $400,000.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> in Transition to Risk-Off Reserve Asset: BI Commodity \u2014 Well on its way to becoming a global digital reserve asset, a maturation leap in 2021 may be transitioning Bitcoin toward a risk-off asset, in our view. <a href=\"https:\/\/t.co\/Ycr1LSqEAJ\">pic.twitter.com\/Ycr1LSqEAJ<\/a><\/p>\n<p>\u2014 Mike McGlone (@mikemcglone11) <a href=\"https:\/\/twitter.com\/mikemcglone11\/status\/1375411286729752578?ref_src=twsrc%5Etfw\">March 26, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div>\n<\/figure>\n<p>McGlone showed on the attached chart that Bitcoin&#8217;s bullish rally in 2021 aligns with the 2013 and 2017 cycles. If the scenarios repeat, Bitcoin&#8217;s price new high would allegedly reach $400,000.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"781\" height=\"459\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/22-6.jpg\" alt=\"\u0421\u0442\u0440\u0430\u0442\u0435\u0433 Bloomberg: \u0446\u0435\u043d\u0430 \u0431\u0438\u0442\u043a\u043e\u0438\u043d\u0430 \u0432\u0437\u043b\u0435\u0442\u0438\u0442 \u0434\u043e $400 000\" class=\"wp-image-129430\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/22-6.jpg 781w, https:\/\/forklog.com\/wp-content\/uploads\/22-6-300x176.jpg 300w, https:\/\/forklog.com\/wp-content\/uploads\/22-6-768x451.jpg 768w\" sizes=\"auto, (max-width: 781px) 100vw, 781px\" \/><figcaption>Bitcoin price growth chart. Data: Bloomberg Intelligence.<\/figcaption><\/figure>\n<p>The strategist expects Bitcoin to rise sevenfold in 2021.<\/p>\n<p>Earlier, Kraken CEO Jesse Powell noted the limitless potential of the first cryptocurrency. According to him, the digital asset will reach <a href=\"https:\/\/forklog.com\/en\/news\/kraken-ceo-bitcoin-could-reach-1-million-within-10-years\">$1 million<\/a> within 10 years.<\/p>\n<p>Tone Vays, a well-known trader, stated that Bitcoin is poised for renewed growth, an all-time high, and then a significant drop. He expects that digital gold <a href=\"https:\/\/forklog.com\/en\/news\/tone-vays-bitcoin-to-hit-a-new-all-time-high-but-then-faces-a-significant-correction\">will reach the level of $70,000<\/a>.<\/p>\n<p>Earlier, BTCC head Bobby Lee forecast Bitcoin would rise to <a href=\"https:\/\/forklog.com\/en\/news\/bobby-lee-predicts-long-term-decline-in-bitcoin-after-reaching-300000\">$300,000<\/a>. He said that after reaching this level the rally would give way to a long-term decline.<\/p>\n<p>Follow ForkLog&#8217;s Bitcoin news on our <a href=\"\/\/telegram.me\/forklog\" target=\"\u201c_blank\u201d\" rel=\"\u201cnofollow\u201d noopener\">Telegram<\/a> \u2014 crypto news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mike McGlone, senior commodity strategist at Bloomberg Intelligence, said Bitcoin is transforming into a low-risk reserve asset and predicted its rise to $400,000.<\/p>\n","protected":false},"author":1,"featured_media":39677,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[480,1569,1138],"class_list":["post-39676","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-price","tag-bloomberg","tag-opinions"],"aioseo_notices":[],"amp_enabled":true,"views":"45","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/39676","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=39676"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/39676\/revisions"}],"predecessor-version":[{"id":39678,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/39676\/revisions\/39678"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/39677"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=39676"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=39676"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=39676"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}