Bitcoin (BTC) will rеplace gold, despite pressure from financial regulators, says Bloomberg strategist Michael McGlone.
McGlone came to this conclusion during a conference in Bretton Woods.
The valuable metal will retain its former positions in industry and production. But BTC will soon rеplace it in another area, becoming the most popular asset for risk insurance and savings. Among the main reasons for this, we can single out high security and autonomy from the government.
The digitalization of money and the financial industry gives bitcoin a significant boost for growth.
A similar situation allowed the USD to become the dominant currency in the global financial market, he noted. Gold, on the contrary, has no such impulses left.Earlier, Bloomberg analysts stated that bitcoin is becoming a digital version of gold
