Bloomberg Analyst: Bitcoin Will Hit $100,000

In a recent interview, Bloomberg senior commodities strategist Mike McGlone said he thinks Bitcoin will stave off selling pressure in the coming weeks, which will be the year BTC hits high six-figure prices. He expects the Bitcoin price to reach $100,000 in the future. A big reason he believes Bitcoin could reach this price soon is that the asset is transforming from purely speculative to a store of value, which he believes will make it unique among its crypto brothers. He mentioned: “Bitcoin is in a unique phase of transitioning from risk-taking to a risk-averse global digital store of value, replacing gold and becoming global collateral, so I think that’s going to happen this year.