Bloomberg Analyst Says Bitcoin and Gold Could Benefit From Potential Incoming Deflationary Phase

Bloomberg Analyst Says Bitcoin and Gold Could Benefit From Potential Incoming Deflationary Phase


Bloomberg’s senior commodity strategist Mike McGlone says a new deflationary period may be arriving to the financial landscape, from which Bitcoin (BTC) and gold could benefit.

The analyst tells his 47,700 Twitter followers that plummeting risk-on assets may evolve into a deflationary phase that boosts the flagship cryptocurrency, the yellow metal and US bonds.

“Too Hot Stocks vs. Maturing Bitcoin? Plunging risk assets in 1H [first half] are taking away inflation at a breakneck pace, which may translate into pre-pandemic deflationary forces resurfacing in 2H [second half]. Primary beneficiaries of this scenario may be gold, Bitcoin and US Treasury long-bonds.”

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Source: Mike McGlone/Twitter

As Bitcoin continued dipping over the weekend, McGlone predicted that this week would see even more declines in risk assets. He says

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