Is Bitcoin’s $10K Comeback the New Trend? You Won’t Believe What McGlone Says! 😱

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In a world where digital gold glimmers with the allure of a siren’s song, Bloomberg’s own oracle, Mike McGlone, casts a most dubious eye upon the cryptocurrency, suggesting it may soon retreat to the humble abode of $10,000. Ah, the irony of a king stripped of his crown! 💰

Bloomberg’s Seer Predicts a Crypto Catastrophe

In his latest musings, shared with the world through the hallowed halls of Bloomberg and the ever-charming platform X, Mike McGlone has taken a scalpel to the fragile anatomy of cryptocurrencies, revealing their vulnerabilities amidst the tempest of macroeconomic chaos. President Trump’s tariff tantrums have stirred the pot, sending both stocks and digital assets tumbling like a clumsy dancer at a ball. 🎭

Bitcoin, that once-mighty titan, has shed a rather unflattering 7% of its value in just a week. Meanwhile, the smaller players have fared even worse: ethereum ( ETH) has plummeted by a staggering 16.7%, while solana ( SOL) has taken a nosedive of 15.8%. McGlone, in his latest X commentary, has the audacity to suggest that the crypto realm may face a profound depreciation, while gold, that old reliable, continues to shine like a beacon in the storm. He also pointed a finger at Treasury bills, those steadfast guardians of wealth in uncertain times. 🏦

“In a market where one must sell what one can, the frothy and speculative cryptocurrencies are destined to lose,” McGlone wrote with a flourish. “Gold may initially suffer margin calls, but T-bonds, dear friends, are the true victors, especially when they yield more than double the deflation leader.” A few hours later, he added:

When the winds of change blow, it is wise not to find oneself on the wrong side of history, particularly when it is merely a matter of mean reversion for those ludicrously overpriced risk assets. Cryptocurrencies are the epitome of risk; Treasuries, their antithesis. Michael Saylor may be all in on bitcoin, while Warren Buffet clings to Treasuries. My preference? The good old T-bonds, of course! 🎩

McGlone’s calculations favor the timeless charm of Treasuries over the capricious waltz of cryptocurrencies, portraying bonds as the prudent counterbalance to the exhilarating yet perilous dance of digital speculation. “What, pray tell, does HODL signify?” McGlone mused in a follow-up X post. “Everyone is in for the long haul, as long as the price ascends. I had no inkling how bitcoin would leap from $10,000 to $100,000 in 2020, but the trends were undeniable. Now, I foresee a return to the $10,000 realm.”

The commodity strategist continued:

The technology is indeed splendid, as evidenced by the most widely traded crypto – tether – the dollar token, which seems poised to usurp ethereum’s market cap in the near future. How delightful! 🎉

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2025-04-07 19:27