Jan 1 2025: Mike McGlone, Bloomberg Intelligence’s chief commodity strategist, shared his perspective on the evolving gold-Bitcoin dynamic for 2025 through his official account on the X social media platform (formerly Twitter).
Gold Could Outperform Bitcoin in 2025
McGlone highlighted recent data indicating that gold has gained 26% this year as of December 30. He suggested that this bullish momentum might position gold to outperform the S&P 500 index next year. He believes gold could also draw investors away from the stock market and possibly Bitcoin, particularly if the leading cryptocurrency has already peaked in 2024.
According to McGlone, the allure of gold as a traditional safe-haven asset could lead to a shift in investor interest from crypto assets, including Bitcoin, in the coming year.
Bitcoin Faces Pressure Amid Tether Concerns
Currently, Bitcoin trades below $100,000 but has rebounded over 3% in the last 24 hours, reaching the $95,500 mark.
Cryptocurrency analyst Michael van de Poppe attributed Bitcoin’s struggle to reclaim the $100,000 level to concerns surrounding Tether (USDT). This speculation stems from new European cryptocurrency regulations implemented on December 30, which demand strict compliance. Some market participants fear that Tether’s stablecoin might not meet these requirements, potentially leading to its delisting from European exchanges.
Tether CEO Paolo Ardoino has dismissed these rumors, reassuring that USDT will not be declared illegal in European markets.
