Mike McGlone believes Bitcoin is in no danger from regulators because it's 'untouchable' and they 'can't do anything' to it.
by the Organization of the Petroleum Exporting Countries to reduce daily oil output makes a recession more likely, as well as interest rate hikes from the Federal Reserve to clamp down on inflation.
"We had our morning call this morning and our economist Anna Wong said, Yeah, their base case is for that recession to kick in Q3," he said. "OPEC is helping that. Fed tightening is helping that. So all assets have to go down. That means Bitcoin too. It's the fastest horse in the race. So I'm overall, certainly relatively bullish."In McGlone's opinion, it's"seriously silly" to risk not having some exposure to crypto or trying to stand in its way.
"The key thing I look at simplistically for Bitcoin is, if you're a money manager, why take the risk of not having some of this revolutionary asset, particularly because it's so controversial you want to have at least some in it because you don't want to look like an idiot over history,” he said. "The smart guys get it; we're not gonna be a Blockbuster or Sears, and we're going to be part of this technology."
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