Bloomberg senior commodities analyst Mike McGlone spoke on a panel this week about the volatility of the market. During the session, McGlone emphasized that the stablecoin USDT typically trades twice as much as Bitcoin.
In addition, McGlone raised concerns about Bitcoin as an investment asset. He mentioned that stablecoin issuers are backing its peg to the U.S. dollar with Treasury bonds, indicating their preference for low volatility. From some investment perspectives, Bitcoin (BTC) has lagged behind gold and the U.S. dollar in volatility. Meanwhile, during a recession, BTC's crash could be worse than the stock market.
Analysts: During a recession, BTC's crash could be worse than the stock market
2024-05-26 17:45:54
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