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Bloomberg senior commodity strategist Michael Mcglone released a September report the other day, in which he shared his views on cryptocurrencies and their regulation.
McGlone looks very positively at the two main mastodons of the crypto market, namely bitcoin and ethereum. The report mentions that the growth of the main crypto assets is associated not just with some artificial speculation and artificial hype, but it was preceded by a revolution in finance and digital money, which can now be observed.
Michael McGlone said: "Bitcoin is the main accumulative tool for saving your savings, and ethereum is the main building block of Defi."
However, it can be observed that the chief strategist of Bloomberg is more sympathetic to ethereum than to bitcoin. He complains that an important proof-of-stake update will be released soon, which will contribute to the accelerated growth of ethereum, as well as demand from institutions.
McGlone could not miss Defi, he mentions the defi revolution and that this sensitive issue was not mentioned in the recent US bill on infrastructure that is directly related to cryptocurrencies.
The other day, there was a debate in the US Congress, where very important factors were not discussed, namely, the financial digital revolution, crypto assets that storm entire countries and contribute to improving the well-being of people. McGlone believes that bitcoin is technically lagging behind ethereum, however, according to him, digital gold can become a global reserve asset after the dollar for every country on this planet.
It cannot be destroyed, it cannot be manipulated, and it certainly will have to be reckoned with by any power in this world. Also in the report, you can see notes that there will be a restructuring soon, in which the dollar will work directly with bitcoin.
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