{"id":211706,"date":"2021-03-26T17:46:16","date_gmt":"2021-03-26T14:46:16","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-can-reach-400k-in-2021-as-risk-off-reserve-asset-bloomberg\/"},"modified":"2021-03-26T17:46:16","modified_gmt":"2021-03-26T14:46:16","slug":"bitcoin-can-reach-400k-in-2021-as-risk-off-reserve-asset-bloomberg","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-can-reach-400k-in-2021-as-risk-off-reserve-asset-bloomberg\/","title":{"rendered":"# Bitcoin can reach $400K in 2021 as &#8216;risk-off reserve asset&#8217; \u2014 Bloomberg"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a40ed3546b49\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a40ed3546b49\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-can-reach-400k-in-2021-as-risk-off-reserve-asset-bloomberg\/#400000_BTC_would_%E2%80%9Crhyme%E2%80%9D_with_history\" >$400,000 BTC would &#8220;rhyme&#8221; with history<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-can-reach-400k-in-2021-as-risk-off-reserve-asset-bloomberg\/#What_risk\" >What risk?<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin can reach $400K in 2021 as &#8216;risk-off reserve asset&#8217; \u2014 Bloomberg <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>Bitcoin (BTC) still gets criticized for being too volatile, but one <em>Bloomberg<\/em> analyst believes that it conversely is becoming a &#8220;risk-off&#8221; choice for investors.<\/p>\n<p>In a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/mikemcglone11\/status\/1375411286729752578\">tweet<\/a> on March 25, Mike McGlone, senior commodity strategist at <em>Bloomberg Intelligence<\/em>, said that this year marked a watershed moment for the largest cryptocurrency.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"400000_BTC_would_%E2%80%9Crhyme%E2%80%9D_with_history\"><\/span>$400,000 BTC would &#8220;rhyme&#8221; with history<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>McGlone uploaded a chart of the BTC\/USD average price and the Bitcoin Liquid Index, a price ticker specially created for institutional use.<\/p>\n<p>&#8220;Well on its way to becoming a global digital reserve asset, a maturation leap in 2021 may be transitioning Bitcoin toward a risk-off asset, in our view,&#8221; he wrote.<\/p>\n<p>A potential price peak this year, with previous behavior as context, could be as much as $400,000 per coin, the chart shows. This dwarfs other estimates, such as that of stock-to-flow, which calls for an average of $288,000 between now and 2024.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-03\/cd112f54-efc8-4bbe-82f4-40871f03f73e.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD price indices chart. Source: Mike McGlone\/ <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a>\/ Bloomberg Intelligence<\/em><\/figcaption><\/figure>\n<p>While McGlone did not provide exact details of the factors behind <em>Bloomberg&#8217;s<\/em> view, the idea of Bitcoin reducing, rather than increasing portfolio risk is the talking point of the year among corporates. New reports of treasury allocations to BTC <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ear frequently, with appetite unfazed by price action.<\/p>\n<p>&#8220;My mission right now is to fix the balance sheets of the world,&#8221; Michael Saylor, CEO of MicroStrategy, one of the largest Bitcoin treasury investors, said in an <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/time.com\/5947722\/microstrategy-ceo-bitcoin\/\">interview<\/a> with <em>TIME<\/em> this week.<\/p>\n<p>Saylor kickstarted a trend among public companies last summer, which has seen over $52 billion converted to BTC on a cost basis, now worth over $73 billion, according to monitoring resource <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/bitcointreasuries.org\/\">Bitcoin Treasuries<\/a>.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_risk\"><\/span>What risk?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Ahead of Morgan Stanley becoming the first major bank to open up access to Bitcoin funds for high net worth investors next week, however, naysayers continue to peddle familiar arguments against exposure.<\/p>\n<p>&#8220;Morgan Stanley limiting crypto access to 2.5% of high net worth individual accounts, that have over $2 million in assets and have been active for over six months, shows that the bank realizes Bitcoin is very risky and wants to limit legal liability from investors who lose money,&#8221; gold bug Peter Schiff recently <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/PeterSchiff\/status\/1372244459728072713\">claimed<\/a>.<\/p>\n<p>Meanwhile, Fed Chair Jerome Powell likened Bitcoin to a &#8220;substitute&#8221; for gold, to Schiff&#8217;s displeasure, but added that it did not pose a risk to the dollar or to financial stability.<\/p>\n<p>As Cointelegraph reported, average returns for BTC\/USD have topped 200% every year since the cryptocurrency&#8217;s inception.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-can-reach-400k-in-2021-as-risk-off-reserve-asset-bloomberg\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin can reach $400K in 2021 as &#8216;risk-off reserve asset&#8217; \u2014 Bloomberg &#8221; Bitcoin (BTC) still gets criticized for being too volatile, but one Bloomberg analyst believes that it conversely is becoming a &#8220;risk-off&#8221; choice for investors. In a tweet on March 25, Mike McGlone, senior commodity strategist at Bloomberg Intelligence, said that this&#8230;<\/p>\n","protected":false},"author":1,"featured_media":211707,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDMvMzhjYTI5NDctNTM5MS00OWE3LWE4M2YtOWFhMDcyODY3YmVjLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,73785,68637],"class_list":["post-211706","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-markets","tag-predictions"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/211706","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=211706"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/211706\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/211707"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=211706"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=211706"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=211706"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}