U.Today - Mike McGlone, the chief commodity strategist at Bloomberg Intelligence, has taken to his official account on the X social media network (widely known as Twitter in the past) to share his take on the likely pivot that the gold-Bitcoin rivalry may take in the approaching 2025.
Will gold surpass Bitcoin in 2025?
Mike McGlone has shared recent data provided by Bitcoin Intelligence regarding gold reaching a peak of 26%, up this year, as of Dec. 30. This bullish momentum suggests that next year, the most popular precious metal may outperform the S&P 500 index.McGlone pointed out that odds are that gold may also draw investors from the stock market and “have the upper hand,” “especially if Bitcoin has peaked” this year.
He also noted that gold will attract investors from crypto, including Bitcoin, in 2025.
Tether FUD suppressing Bitcoin price, analyst says
Currently, the world’s largest cryptocurrency is changing hands below $100,000. Still, over the past 24 hours, it has managed to regain more than 3% and reach the $95,500 zone.As reported by U.Today earlier, top cryptocurrency analyst Michael van de Poppe has named the Tether FUD that is currently circulating the crypto market as the main reason why the Bitcoin price is unable to go back above $100,000.
On Dec. 30, the European authorities implemented new crypto regulatory rules that assume strong compliance, and many expect Tether’s stablecoin, USDT, not to fit into these new regulatory rules. Therefore, many are spreading speculation that the most popular stablecoin would be delisted from European exchanges. However, Tether CEO Paolo Ardoino has refuted those rumors, assuring that Europe will not call USDT illegal on its markets.