Bloomberg’s senior commodity strategist Mike McGlone has reportedly displayed further belief in the future of Bitcoin hitting the $100K benchmark, and ultimately turning into a global reserve asset. 

Specifically, as revealed in Bloomberg’s Crypto Outlook in September, $100,000 BTC and $5,000 Ether (ETH) are referred to as the “path of least resistance”, following the two virtual coins pushed through an over 50% correction happening in the summer. 

“Crypto-assets appear in a revived and refreshed bull market with the 2H benefit of a steep discount from previous highs at the start” McGlone further claimed when talking about the remaining months of 2021. 

He reportedly used the “naked” status to refer to portfolios not having BTC or ETH in their lists, as evidenced by the relative underperformance of gold and government bonds. 

“Portfolios of some combination of gold and bonds appear increasingly naked without some Bitcoin and Ethereum joining the mix. A macro risk-off decline is a primary threat for the crypto bull market.”

Despite forecasts for Bitcoin hitting $100K has been thrown around for a while, McGlone’s prediction for the long haul reportedly places BTC close to the center of the international financial system, where he shared his belief that Bitcoin is the digital future. 

The remarks from McGlone reportedly surfaced following the dollar experiencing an over 300% advantage against nominal peers, since President Richard Nixon nixed the greenback’s gold peg in 1971.

“We foresee a future of Bitcoin, the digital reserve asset, complementing the dollar reserve currency.”

Bitcoin’s most dedicated enthusiasts have reportedly been claiming that the crypto coin will achieve a sufficient level of maturity to function as a global reserve asset.