![\"Bloomberg](\"https:\/\/www.cryptocabaret.com\/wp-content\/uploads\/2022\/10\/mcglone-768x432.jpg\")
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Bloomberg Intelligence\u2019s senior commodity strategist says bitcoin \u201cmay be entering an inexorable phase of its migration into the mainstream.\u201d In addition, the cryptocurrency may also \u201cbe entering unstoppable maturation stage,\u201d the strategist added, expecting the price of bitcoin to continue to rise over time.<\/strong><\/p>\n Bloomberg Intelligence\u2019s senior commodity strategist Mike McGlone provided his outlook for bitcoin this week. Citing rising demand, increased adoption, and regulation, he tweeted Wednesday:<\/p>\n Bitcoin may be entering an inexorable phase of its migration into the mainstream, and at a relatively discounted price.<\/p>\n<\/blockquote>\n In another tweet, he noted the declining supply of bitcoin, adding: \u201cBitcoin\u2019s definable diminishing supply is unprecedented on a global scale, and so prices should continue to rise over time unless something unlikely reverses demand and adoption trends, given the laws of supply and demand.\u201d<\/p>\n He also tweeted:<\/p>\n Bitcoin may be entering unstoppable maturation stage.<\/p>\n<\/blockquote>\n The strategist elaborated: \u201cThe fact that Bitcoin didn\u2019t exist in October 2007, when WTI crude oil rose to its current $84 a barrel for the first time, may indicate the appreciation advantage of the nascent technology.\u201d<\/p>\n \u201cIn a world rapidly going digital, the benchmark crypto is gaining value as a unique alternative asset and global collateral that\u2019s no one\u2019s liability or responsibility,\u201d McGlone continued.<\/p>\n \u201cIt makes sense for one of the best-performing assets of the past decade to drop with the most aggressive Federal Reserve tightening in about 40 years, but rising demand and adoption, declining supply and a steep relative price discount point to risk\/reward leaning favorably,\u201d the Bloomberg Intelligence strategist opined, concluding:<\/p>\n Returning to its propensity to outperform most assets may be a matter of time, as mainstream adoption progresses and adaptive changes in U.S. accounting standards give it a lift.<\/p>\n<\/blockquote>\nBitcoin\u2019s \u2018Unstoppable Maturation Stage\u2019<\/h2>\n
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