CoinEfficiency

Bitcoin at Crossroads: McGlone Warns of Great Reset and Gold Competition

Bloomberg's Mike McGlone predicts Bitcoin's potential correction as it competes with gold, while Michael Saylor's firm adds more BTC to its holdings.
Published on 2025-03-24

Bitcoin's Historic Peak and Potential Correction

Bloomberg Intelligence's Mike McGlone has sounded the alarm, suggesting Bitcoin may have reached a historic peak against gold, signaling a potential "Great Reset." In 2024, the Bitcoin-to-gold ratio surged to 40x, implying one BTC was worth 40 times more than an ounce of gold. McGlone warns this level may be unsustainable, hinting at a possible reversal this year.

The U.S. stock market-cap-to-GDP ratio, currently at 2.2x, has historically preceded major crashes, such as in 1929 and 1999. McGlone highlights "elevated reversion risks," suggesting both stocks and Bitcoin could retreat to their historical averages. If Bitcoin is overvalued compared to gold, a significant correction may be on the horizon.

McGlone's Gloomy Outlook for Bitcoin and Dogecoin

McGlone predicts Bitcoin could drop from $100,000 to $10,000, driven by investors shifting back to gold. This is evidenced by gold ETF inflows and Bitcoin ETF outflows. He also warns about Dogecoin, noting its price action mirrors the gold-to-Bitcoin ratio, signaling potential withdrawals from both BTC and DOGE into gold.

Strategy's Major Bitcoin Acquisition

Despite McGlone's caution, Michael Saylor's company, Strategy, continues to bet big on Bitcoin. The firm recently acquired 6,911 BTC, valued at $584.1 million, bringing its total holdings to 506,137 BTC, worth approximately $33.7 billion. This move underscores Saylor's long-term confidence in Bitcoin's value.

As Bitcoin and gold compete for dominance, McGlone's warnings suggest a volatile market ahead, while Saylor's strategy reflects a contrasting bullish outlook.

What is Coinefficiency?

Coinefficiency is your go-to platform for optimizing cryptocurrency trading, investments and strategies. We provide a comprehensive suite of tools to analyze market trends, monitor price movements, and execute effective trading strategies. Whether you're a seasoned trader or new to crypto, Coinefficiency helps you maximize your profits with data-driven insights.

Why Use Coinefficiency?

  • Advanced market analytics to identify trading opportunities.
  • Compare markets relative performance.
  • Understand market cycles over time. See market levels.
  • Compare buy-and-hold, portfolio rebalancing, Dollar-Cost-Averaging trading strategies.

With Coinefficiency, you can stay ahead of the market and execute efficient trading strategies effortlessly.

Get Started with Coinefficiency

Ready to optimize your crypto investments? Take control of your portfolio with cutting-edge tools designed for both beginners and experts.