Here’s an Advantage Crypto Has In The Stock Market, Says Bloomberg Strategist Mike McGlone

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Bloomberg Intelligence Senior Commodity Strategist Mike McGlone said crypto could have a big advantage in the stock market.

The closely watched strategist compares the S&P 500 to the MVIS CryptoCompare Digital Assets Index which tracks the performance of the 10 largest and most liquid digital assets. According to McGlone, the ability of digital assets to remove excess leverage from the system with sudden drops and rebounds is one of the advantages of crypto in the stock market.

“The Federal Reserve is almost guaranteed to expand on easing the next time the stock market falters, if past patterns hold, which should solidify the fundamentals of Bitcoin. A clearing of speculative excess in 1 hour (1 hour) may be an advantage that crypto assets have over the S&P 500. “

Source: Mike McGlone / Twitter

Looking at Bitcoin, McGlone says BTC continues to build a solid foundation as crude oil and commodity prices show that a spike in inflation is in sight.

“Crude oil and commodities are good indicators that peak inflation is approaching. We believe that crude is fundamentally a bear market that is hitting the upper end of its price range since the 2014 plunge. Bitcoin is becoming a digital collateral and part of the technological revolution. “

Source: Mike McGlone / Twitter

McGlone also highlights the three main components driving the growth of crypto markets, which include Bitcoin, Ethereum (ETH), and the large amount of stablecoins, which he calls “crypto dollars”.

“Three crypto musketeers that generate a $ 3 trillion market cap – representing a better way to deal, a strengthened ecosystem, and an asset class here to stay, crypto dollars are the most important part of the revolution in the world. digital currency and the third step of the stool crypto. “

Source: Mike McGlone / Twitter

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