Mike McGlone, a strategist at Bloomberg Intelligence, has stated that Bitcoin (BTC) could be a favorable option for macro investors. He believes that the decentralized nature of Bitcoin would stop it from being targeted by US regulators, who have labelled BTC as a commodity. McGlone claims to have a bullish outlook on Bitcoin although, at the same time, he warns of an impending recession which may bring down the prices of all risk assets, including Bitcoin.

The fear of a looming recession has been increasing after the Organization of the Petroleum Exporting Countries (OPEC) agreed to lower oil production. This could be combined with a possible rate hike from the US Federal Reserve to reduce inflation in the world's largest economy. When talking about the possible market decline in the event of a recession, McGlone highlighted his belief that, despite the potential setback, Bitcoin would emerge as the “fastest horse in the race”.

Bitcoin’s decentralized nature is one of its biggest benefits and allows it to remain largely unaffected by government regulations, making it more desirable than some other available assets. It has already been able to withstand many market pullbacks and still reach a market cap of over $500 billion. While many global macroeconomic factors threaten to impact all digital assets, Bitcoin has recently been reaching historic highs with current prices surpassing the $28,000 mark.

Despite all the optimism surrounding the potential of Bitcoin, investors must remain mindful of the potential implications of the looming recession. The market, including all risk assets, is likely to face a significant pullback if it arrives. However, due to its decentralized nature, Bitcoin is expected to remain relatively resilient, possibly emerging as the “fastest horse” amidst the market turmoil.



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