Bloomberg Strategist: Bitcoin Challenges Gold and Dollar
The price of Bitcoin has fallen to $45,200 today. Experts have urged investors not to panic over the current cryptocurrency’s price correction.
Bloomberg strategist Mike McGlone has tweeted BTC has enormous potential. If before the US dollar was a competitor to gold, now the place of this instrument is taken by Bitcoin.
The analyst believes no repressive policy of the US authorities will be able to stop the process of introducing digital currency. Bitcoin is the leading driver of global changes in the financial system.
Princeton University historian Harold James shares a similar opinion. He believes that, in addition to BTC, the digitalization of the global economy is also accelerated by Ether (ETH) and other cryptocurrencies based on blockchain tech.
Anthony Pompliano, a BTC supporter, has recently said the US dollar and gold are less profitable than cryptocurrencies.