Diversification into Bitcoin a ‘prudent move,’ says Bloomberg strategist
Cointelegraph
Published Jun 16, 2021 01:35PM ET
Updated Jun 16, 2021 03:20PM ET
Bitcoin (BTC) price has retreated by more than 40% after topping out near $65,000 in mid-April. But that is not enough to derail the flagship cryptocurrency's long-term bull trend, especially as global markets grapple with declining national currencies and the prospect of a commodity market crash.
So believes Mike McGlone, the senior commodity strategist at Bloomberg Intelligence, who said Wednesday that diversifying into store-of-value assets is a wise strategy against gloomy currency and commodity market outlooks.
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Written By: Cointelegraph
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