Bitcoin: The fastest horse in digital security race

The rapid rise of Bitcoin

The Bitcoin price has been fluctuating at the same level since mid-September this year, so for over a month in a horizontal trend. Mike McGlone, senior commodity strategist at Bloomberg Intelligence, however, forecasts that the BTC price will eventually see a huge increase to $ 100,000 per coin, which will be driven mainly by the increase in cryptocurrency adoption, but also its limited supply.

Experts predict BTC will secure global digital assets

Mike McGlone, a cryptocurrency strategist as one of the experts at Bloomberg Intelligence, believes that "it's only a matter of time" before the largest cryptocurrency in terms of market capitalization rises to $ 100,000. In his opinion, BTC "at some point will just go into space and reach a new ATH that will reach, or maybe exceed, 100,000 per coin."

These are simple facts about adoption, supply, and demand for the next five years or even a decade. The supply is declining due to the code itself. Demand and adoption are growing, and that must affect the price, McGlone said in an interview with Daniela Cambone of Stansberry Research.

In addition, he also added that cryptocurrency assets are rapidly developing technologies that more and more people are beginning to understand, adding that BTC is "the fastest horse in the race."

- The community around the digital currency sector knows well that the oldest cryptocurrency is the strongest element in the entire cryptocurrency ecosystem. This is an exponentially developing technology that cannot be lagged behind and we must be part of it ... - he pointed out, adding that it will probably take some time, but Bitcoin will eventually one day become a "global digital security" on a par with gold.