The crypto market may be taking a beating alongside traditional investments, but the bloodbath, which has seen many assets lose all their recent gains, has done little to dampen confidence in bitcoin’s price potential.

Bloomberg’s Mike McGlone, who recently said he thinks bitcoin will reach $100,000 over the next decade, tweeted on Tuesday: “#Bitcoin is a standout fixed-supply asset that should be a primary beneficiary in a period of limited potential further upside in equity and bond prices, in our view. #QE juxtaposed vs. tightening Bitcoin supply leaves adoption and demand as the top price-outlook metrics.”

Translation: The price of bitcoin is going up.

A person doesn’t have to be a rocket scientist to understand McGlone’s finance jargon, but if they did, it would not be a problem for Michael Saylor, CEO of MicroStrategy.

(Excerpt) Read more Here | 2020-09-22 16:13:00
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