Mike McGlone, the largest commodity strategy in Bloomberg Intelligence, has issued an important warning to Bitcoin, commenting on his competition with gold in the market.
The expert suggests that Bitcoin may have reached its climax against gold and now it may be a great reset.
Wonderful reset in Horizon for Bitcoin
Mike McGlone began a tweet, indicating that Bitcoin may have reached a historical peak against gold and this market may be in a great correction – “great reset”.
In 2024, the percentage of bitcoin to gold (i.e. an ounce of gold equal to one BTC) reached 40x, which means that bitcoin was one worth 40 times the ounce of gold. However, it seems that McGlone believes that this may be incompatible and is likely to be reflected this year.
He also mentioned the ratio of the American stock market to GDP-this scale reaches 2.2X. Historically, the expert continued, and these summits were seen again in 1929 and 1999 before the massive market accidents. In those years, the United States faced the beginning of the great recession and the Dot-Com bubble incident.
In general, McGlone’s tweet contains a clear warning that the stock market and Bitcoin are likely to return to their historical average because it mentions the “high risk of apostasy”. This means that if Bitcoin is currently exaggerated compared to gold, BTC may make a great correction.
Dogoin’s global mglone prediction
Ten days ago, McGlone expressed similar predictions, saying that Bitcoin might lose one zero of $ 100,000 and return to a level of $ 10,000 for a similar reason-investors have begun to go towards their appearance to Bitcoin, which was proven by huge flows in the investment funds circulating on the stock exchange and out of the fun of Bitcoin exchange.
Last week, a similar warning was done by McGlone not only about “digital gold”, bitcoin, but Meme Cryptocurrency Dogecoin. He stated that the percentage of gold to the bits was closely similar to the procedures of the price of Doug, adding that it is possible that investors will start withdrawing money from DOGE and BTC and transferring them to gold.
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Strategy to seize nearly 7000 BTC
Today, Michael Sailor announced on the X platform that his company (previously Microstrategy) has achieved another major acquisition in Bitcoin. The company, which focuses on Bitcoin 6,911 Bitcoins, added to its huge hideout.
This amount of BTC cost strategy is approximately $ 584.1 million. After this purchase, the company’s Crypto Holdings includes 506,137 BTC with approximately $ 33.7 billion.
