Bitcoin Is A Revolutionary Asset, Senior Bloomberg Analyst Says

Bitcoin has been all over the mainstream media since the king coin was able to hit $20k last year, and since then it has been hitting more and more ATHs.

At the moment of writing this article, BTC is trading in the red, and the king coin is priced at $31,260.80.

More important names have been talking about Bitcoin these days, and the mass adoption is definitely here.

Even Elon Musk said at one point that he would not refuse getting paid on Bitcoin if this were to happen.

Bloomberg Intelligence senior commodity strategist addresses Bitcoin

Bloomberg Intelligence senior commodity strategist Mike McGlone said that Bitcoin is a potentially revolutionary asset that is bound to match the risk measures of gold as BTC’s volatility continues to decline.

In a new Stansberry Research interview, McGlone pointed out that the volatility of Bitcoin is actually at its lowest point when viewed from a long-term timeframe.

“I’m measuring volatility annual[ly], 260-day, and [what] really started getting me bullish last year when Bitcoin volatility was going down and everything else was going up. It did reach a milestone. [The] 260-day volatility reached the lowest ever versus gold, versus the S&P 500, almost reach one to one versus the S&P 500, and the lowest ever versus crude oil,” he said.

He continued and explained that “When people say that Bitcoin volatility is high, yes sure, it’s only been around 10 years and gold has been around since the beginning of time. Bitcoin annual volatility is around 50 right now, so it’s a longer-term measure which is about the same volatility of gold was trading at in 1980 right when it had that big rally.”

He also made sure to conclude by saying that BTC is the least volatile compared to other assets these days, and he also addressed the ATHs that the king coin has been hitting.

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