Mike McGillon, Bloomberg’s key commodity strategist, is confident that Bitcoin will continue to grow thanks to a stable supply along with growing demand.
“I do not understand what can make him stop doing what he has been doing for the last ten years. Here’s what’s going on, “he told the Cointelegraph in a recent interview.
McGlone sees Bitcoin’s special offer as a great advantage. This will probably make it a more valuable storage facility than gold, whose total amount is unknown, he said.
Given the stable supply, the value of Bitcoin will increase as the demand for it increases. McGlone points to the growing number of active bitcoin addresses and the growing influx of bitcoins to regulated exchanges as two main factors proving the growing demand for bitcoin.
Finally, Bitcoin’s lower volatility compared to Nasdaq is another indicator that points to the increasing maturity of Bitcoin as an asset class.
When asked about the price forecast for Pantera Capital, Bitcoin could reach $ 115,000 in a year, McGlone remains skeptical. According to the analyst, Bitcoin is too ripe for such a massive wave to occur in such a short time.
“Bitcoin 10x? Maybe in 10 years it will make a lot of sense, “he said.