BTC $81,404.00 ▼ 3.42% ETH $2,391.41 ▼ 3.45% BNB $731.00 ▼ 2.34% XRP $1.31 ▼ 4.01% SOL $103.86 ▼ 3.27% TRX $0.3283 ▼ 0.63% FIGR_HELOC $1.03 ▼ 0.13% ZEC $1,222.14 ▼ 7.75% HYPE $77.62 ▼ 3.87% DOGE $0.0789 ▼ 3.95% XMR $596.43 ▼ 3.77% WBT $79.00 ▼ 3.36% LINK $11.98 ▼ 4.83% LEO $9.03 ▼ 0.07%
50 Neutral

Mike McGlone: Bitcoin Can Drop a Zero, Treasuries Next Big

Original title: Bloomberg's Mike McGlone: AI Risk Could Force Bitcoin Drawdown to $10,000

Bitcoin Magazine 25:45 15 views on YouTube BTC −3.4% USDT −0.1%

Watch on YouTube Opens on youtube.com in a new tab. Playback here uses youtube-nocookie.com.

Summary

Mike McGlone, a Bloomberg Intelligence senior commodity strategist, says bitcoin can easily drop a zero. He explains why the ETF launch signaled the trade was over. McGlone describes bitcoin as a 'stock puppet' with high beta and no edge. He says a Fed priced for rate hikes is a headwind for bitcoin, gold and copper. The interview also covers the Middle East energy shock, midterm elections, the GENIUS Act and stablecoins. McGlone says U.S. Treasuries are his next big trade. The discussion includes Russia-Ukraine diesel exports, the wheat trade, and an oil glut.

This AI summary uses the title, description and tags. It may miss context from the full video. How summaries are checked

Key points

  1. Mike McGlone is a Bloomberg Intelligence senior commodity strategist.
  2. McGlone says bitcoin can easily drop a zero.
  3. McGlone says the ETF launch signaled the trade was over.
  4. McGlone describes bitcoin as a 'stock puppet' with high beta and no edge.
  5. McGlone says a Fed priced for rate hikes is a headwind for bitcoin, gold and copper.
  6. McGlone says U.S. Treasuries are his next big trade.

Chapters

Chapters come from the timestamps in the video description.

Questions

What does Mike McGlone say about bitcoin?
He says bitcoin can easily drop a zero and describes it as a 'stock puppet' with high beta and no edge.
What is McGlone's next big trade?
He says U.S. Treasuries are his next big trade.
What Fed policy does McGlone mention?
He says a Fed priced for rate hikes is a headwind for bitcoin, gold and copper.

Related briefs

A video appearing here is not an endorsement. Crypto assets can lose value. This page provides information, not investment advice.