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Bitcoin Demand Is On The Rise And The Capped Supply Means Its Price Will Continue To Rise, According To Bloomberg Analyst
Summary: Senior Commodity Strategist at Bloomberg, Mike McGlone, stated his belief that Bitcoin's value will continue to appreciate largely due to its fixed supply in a recent interview with Cointelegraph. He stated that he doesn't know what could stop the asset's value from going up and that the halving combined with the supply cap could make ...
Senior Commodity Strategist at Bloomberg, Mike McGlone, stated his belief that Bitcoin's value will continue to appreciate largely due to its fixed supply in a recent interview with Cointelegraph.
He stated that he doesn't know what could stop the asset's value from going up and that the halving combined with the supply cap could make the coin a better store of value than gold.
McGlone pointed to an increasing number of Bitcoin addresses and increased volume flowing into exchanges as two signals that demand for Bitcoin is on the rise.
He also commented on Pantera Capital's price prediction that Bitcoin will reach $115,000 in the next year, countering that the asset is too mature to see a rally of that magnitude over such a short time frame. Over ten years he said this level could be possible.
By Emily Mason
Tags: Bitcoin,Bloomberg,BTC,Mike McGlone
Link: Bitcoin Demand Is On The Rise And The Capped Supply Means Its Price Will Continue To Rise, According To Bloomberg Analyst [Copy]
