Mike McGlone, Bloomberg Intelligence Commodity Strategist, tells our Daniela Cambone there’s a excessive chance the U.S. follows Canada by creating cryptocurrency ETFs, with robust strain constructing for U.S. regulators to permit them.
McGlone says he has underestimated the reallocation of capital from gold to Bitcoin and Ethereum this 12 months, with cryptocurrencies restricted provide overtaking the dear steel.
“The U.S. inventory market is overdue for a wobble,” says McGlone, which can drive central bankers to show up the spigots much more. He believes that this base case will solely additional add to the divergent energy of the strongest cryptocurrencies.
#bitcoin #cryptocurrency #gold
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