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Bloomberg’s lead commodity analyst Mike McGlone is doubling down on his forecast for a six-figure Bitcoin price tag.
In a new interview with Kitco News, crypto expert McGlone says that adoption and demand for Bitcoin appear to be gaining enough steam to push BTC to $100,000 in less than three years.
“Here’s the key thing about Bitcoin. To me, it’s a matter of time before it gets to $100,000. The key fact is by code, the supply is going down. You can’t change it. Adoption and demand are increasing. Unless you expect that to reverse – which I don’t – I think it’s going to accelerate. Every sign I see it’s accelerating. It will continue appreciating. It’s just a matter of time.”
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Show Notes / News Resources:
✔ Bitcoin Technical Analysis: https://bit.ly/3Bo7zYU
✔ $160 Million Crypto Hack: https://bit.ly/3S0Iryz
✔ Ethereum Co-founder Vitalik on Layer 3’s: https://bit.ly/3xCs6YP
✔ $16K Bitcoin Bottom Prediction: https://bit.ly/3f71AR3
✔ $100K Bitcoin Prediction: Bloomberg: https://bit.ly/3qYHAm1
🔴 DISCLAIMER: This is NOT financial advice. This is an entertainment and opinion-based show. I am not a financial adviser. I am not responsible for any investment decisions that you choose to make. Always do your own research and never invest what you cannot afford to lose.
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Facebook’s New Metaverse
The metaverse is a virtual world with a simulated social component. Users can jump from platform to platform and meet other users, shop, and interact. The concept combines the features of VR, AR, and Web 2.0 into a single world. The Metaverse is a unique and fascinating new type of virtual world.
The metaverse is a virtual world where people use avatars to interact with one another. In order for this world to work, it must be “decentralized.” Blockchain technology makes this possible. Metaverses like The Sandbox use cryptography to create networks without a central control authority. Non-fungible tokens, which are used as currency, can be used to store ownership rights.
The metaverse can enable countless new uses, but the real promise of the technology lies with its users. A user can convert digital assets into play-to-earn assets, trade in non-fungible tokens, and invest in non-fungible assets. A secure, trustworthy metaverse blockchain is necessary to ensure the integrity of the data. To do that, it must be backed by a cryptocurrency.
The Facebook-owned Metaverse will make it easier to sell Limited Edition digital objects, display them, and resell them. It will be different than existing open source metaverses. It will incorporate NFTs, a crypto wallet called Novi, and the Diem stablecoin. Last month, US lawmakers pushed back the stablecoin Diem.
