Bitcoin May Face Investor Shift Toward Gold in 2025, Mike McGlone Warns
Mike McGlone, the chief commodity strategist at Bloomberg Intelligence, has taken to his official account on the X social media network (widely known as Twitter in the past) to share his take on the likely pivot that the gold-Bitcoin rivalry may take in the approaching 2025.
Will gold surpass Bitcoin in 2025?
Mike McGlone has shared recent data provided by Bitcoin Intelligence regarding gold reaching a peak of 26%, up this year, as of Dec. 30. This bullish momentum suggests that next year, the most popular precious metal may outperform the S&P 500 index.
McGlone pointed out that odds are that gold may also draw investors from the stock market and “have the upper hand,” “especially if Bitcoin has peaked” this year.
He also noted that gold will attract investors from crypto, including Bitcoin, in 2025.
Yuri MolchanTether FUD suppressing Bitcoin price, analyst says
Currently, the world’s largest cryptocurrency is changing hands below $100,000. Still, over the past 24 hours, it has managed to regain more than 3% and reach the $95,500 zone.
As reported by U.Today earlier, top cryptocurrency analyst Michael van de Poppe has named the Tether FUD that is currently circulating the crypto market as the main reason why the Bitcoin price is unable to go back above $100,000.
On Dec. 30, the European authorities implemented new crypto regulatory rules that assume strong compliance, and many expect Tether’s stablecoin, USDT, not to fit into these new regulatory rules. Therefore, many are spreading speculation that the most popular stablecoin would be delisted from European exchanges. However, Tether CEO Paolo Ardoino has refuted those rumors, assuring that Europe will not call USDT illegal on its markets.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Related articles
Alex Dovbnya
Vladislav Sopov
Dan Burgin