Bitcoin for Gold, Bloomberg’s Mike McGlone Teases Potential Twist Ahead
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Bitcoin (BTC), the leading digital asset, has had a good run against gold on the broader financial market. Recently, Tim Draper, the legendary venture capitalist, declared gold dead because it does not move like Bitcoin. However, Mike McGlone, a senior commodity strategist at Bloomberg Intelligence, has dropped a potential twist to Bitcoin’s growth against gold. Mike McGlone points to yields and risk dynamics In a post on X, McGlone’s analysis of the U.S. 30-year Treasury yield at 5.15% on May 22, 2025, when BTC was at $112,000, shows a twist. He noted that rising yields might favor gold over Bitcoin due to gold’s historical role as a safe-haven asset. Gold vs. 5.15% Long Bond, $112,000 Bitcoin – May 22 has apex inklings for the US Treasury 30-year yield and Bitcoin, favoring gold. Or will the speculative digital asset keep rising, either lifting most risk-asset boats or rally on its own?Full report on the Bloomberg here:… pic.twitter.com/ZrLpq3VuVv — Mike McGlone (@mikemcglone11) May 27, 2025 You Might Also Like The strategist suggests that gold could be better positioned moving forward. However, he leaves open the possibility that Bitcoin could continue to rise, sparking a broader rally on the financial market. McGlone questions whether Bitcoin could decouple from risk assets like the S&P 500. He opines that gold, unlike Bitcoin, would continue to benefit from macroeconomic uncertainty. According to McGlone, Bitcoin could outpace gold only if the digital asset keeps rising. That way, other risk assets would continue to rally. That is, unless Bitcoin continues to shock the market, gold would definitely have the upper hand. Bitcoin ETFs narrow gap with gold Despite McGlone’s analysis, other stakeholders have maintained their preference for Bitcoin. Robert Kiyosaki, author of “Rich Dad Poor Dad,” insists that Bitcoin’s 21 million supply cap gives it an edge in the…
Filed under: News - @ May 28, 2025 6:26 am