Bloomberg’s Financial Strategist Says Bitcoin will Become Global Digital Collateral

The current geopolitical situation of the world has proven the strength of the Bitcoin network. Mike McGlone, the senior commodity strategist hailing from Bloomberg news, recently talked about in detail the role of the top coin in international financial markets. McGlone claimed that the bellwether currency is showing divergent resilience.

He also clarified that there are deflationary forces visible for the top coin soon. It means that the investors should not proceed without caution. However, he pointed out that the Bitcoin network is proving to be more stable in comparison to the traditional financial markets. Shortly after the Russian and Ukrainian conflict, Bitcoin prices crashed but managed to recover in the same week.

McGlone Claims that Bitcoin Proves its Position as Digital Gold

At present, most financial experts have positive things to say about Bitcoin. The senior financial expert of Bloomberg media claimed that Bitcoin solidified its position as the digital gold. He also pointed out the newly acquired role of the firstborn cryptocurrency as international collateral.

According to McGlone, the losses of the Bitcoin network in 2002 were significantly in comparison to NASDAQ. He shared the data projections that indicated that while Nasdaq stood at 14,000, Bitcoin positioned itself on the peak with $40K per unit.

On account of the Russian and Ukrainian skirmishes, the geopolitical tensions are running high all around the world. The country where war breaks out often went into a financial and economic lockdown. Under these circumstances, the people are unable to process their transactions and withdraw money from the centralized banking institutions, as is happening in all cities of Ukraine.

Therefore, the people who reside in high-alert areas are already preparing to deal with any emergency. In terms of financial preparations, the Bitcoin network provides the best solution to the people who can store their savings without being at risk of being locked out of their investment in case of a local government crash.

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