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$100k bitcoin price by 2025; is gold still worth buying? – Bloomberg Intelligence

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As bitcoin matures, the largest cryptocurrency trades more like gold, a store of value, as evidenced by the two assets’ close correlation with each other this year.

This correlation is likely to hold, said Mike McGlone, commodity strategist at Bloomberg Intelligence, and the same macroeconomic forces pushing gold higher are likely to drive bitcoin as well.

So if bitcoin is starting to trade like gold, a store of value, and less like a risk asset but has more upside potential, the question becomes: is gold still worth buying? McGlone discusses in this interview.
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6 Comments

  1. Peter Schiff says don't liquidate Gold & silver and to keep buying. Gold, Silver, Copper, & Nickel will be rising in prices as a metal & 1 million times higher as a stock from now to the next century. I've also been buying Copper and nickle. Nickel & copper is being used in the green technology, future technology & Artificial Intelligence. I've also been buying cryptocurrency & rare earth metal stocks. These metals are all used in the planned future. 😊👍🌎🌍🌏💰💰💰📈🚀💰💰💰🍺🍻🥂🍾💰💰💰$ARAFF, $GGSM, $GEGI, $EXK, $LTHUQ, $MUX, $PLG, $TMMFF, $TRQ, $NAK, $ASM, $LODE, $FVAC, $GAHC, $DIGAF, $BYSD, $SANP

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  3. The economy is slowly collapsing. It is this realization that is fueling bitcoin. One can only assume that with the inevitable economic collapse, people are buying bitcoin as a preparation for things to come. It's not hard to assume that an ugly "depression" is on the horizon and unemployment rates will be higher than they have ever been. The first breakdown in my opinion would supply of food gas and other necessities. You seen what happened with toilet paper recently. Second to be hit, in my opinion, would be local governments and utility's. It's common sense to think that if things were to get bad enough, electricity would be scarce. They say to prepare for the worst and hope for the best. The worst would be no electricity, no internet connection etc. How useful is bitcoin in this scenario? The people riding bitcoin up in plans to sell, i understand. People buying cryto currency because they are anticipating the worst case scenario are contradicting themselves.

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