Bloomberg Analyst Says Bitcoin Could Be Kicking Off New Supercycle As BTC Outperforms Gold

Bloomberg’s senior macro strategist Mike McGlone says that Bitcoin (BTC) vastly outperforming gold may be indicative of a new supercycle for the king cryptocurrency.

Highlights

• Bloomberg’s senior macro strategist Mike McGlone says Bitcoin (BTC) vastly outperforming gold may be indicative of a new supercycle for the king cryptocurrency.
• One of Bitcoin’s key advantages over gold is its low and rising adoption plus diminishing supply.
• The strategist is also forecasting that Bitcoin may be in a transitionary period between being a risk-on asset and a more defensive investment against economic instability and banking crises.
• He pits BTC against the KBW banking index, which tracks the leading banks and thrifts that are publicly traded in the US, and points out big divergent strength in favor of Bitcoin.
• The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is

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