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Here’s One Advantage Crypto Has Over the Stock Market, According to Bloomberg Strategist Mike McGlone

Here’s One Advantage Crypto Has Over the Stock Market, According to Bloomberg Strategist Mike McGlone
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Mike McGlone, chief commodity strategist at Bloomberg Intelligence, says crypto could have a huge advantage over the stock market.

The closely watched strategist compares the S&P 500 to the MVIS CryptoCompare digital asset index, which tracks the performance of the 10 largest and most liquid digital assets. According to McGlone, the ability of digital assets to get rid of excessive leverage from the system with sudden dips and bounces is one of the advantages that crypto has over the stock market.

“The Federal Reserve will almost certainly expand easing the next time the stock market swings, if previous patterns continue, which will strengthen Bitcoin’s underpinnings. Clearing speculative excesses in one hour (one hour) may be an advantage crypto assets have over the S&P 500 Index.”

source: Mike McGlone/Twitter

Looking at Bitcoin, McGlone says that BTC continues to build a solid base as crude oil and commodity prices show that peak inflation is looming.

Crude oil and commodities are good indicators that peak inflation is approaching. We believe that crude oil is essentially a bear market hitting the upper end of the price range since the 2014 drop. Bitcoin has become a digital security and part of the technology revolution.”

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source: Mike McGlone/Twitter

McGlone also highlights the three main components driving the growth of the cryptocurrency markets, which include Bitcoin, Ethereum (ETH) and the massive amount of stablecoins, which he refers to as “cryptocurrencies.”

“Three crypto jockeys driving a $3 trillion market capitalization – representing a better way of doing business, a strengthened ecosystem and an asset class that is here to stay, the crypto-dollar is the most important advance in the digital money revolution and the third leg of crypto poo.”

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source: Mike McGlone/Twitter

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Disclaimer: The opinions expressed in The Daily Hodl are not investment advice. Investors should perform their due diligence before making any high-risk investments in bitcoin, cryptocurrency or digital assets. Please be aware that your transfers and transactions are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend buying or selling any cryptocurrency or digital assets, and The Daily Hodl is not an investment advisor. Please note that The Daily Hodl is involved in affiliate marketing.

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