Will Bitcoin outperform stocks in 2022? This analyst says there's a good case to be had.
The Federal Reserve’s signaling for tighter monetary policy in 2022 could provide short-term headwinds for risk assets such as stocks and cryptocurrency, but there’s a good chance that Bitcoin still comes out on top as investors recognize its value as a digital reserve asset, according to Bloomberg commodity strategist Mike McGlone.
“Stretched markets have become common, but commodities and Bitcoin appear to be early reversion leaders,” McGlone said. “It's a question of bull-market duration, and we see the benchmark crypto coming out ahead.”revealed on Wednesday that central bankers are ready to aggressively curb their stimulus support more quickly than previously expected.
Although stimulus reduction is usually considered negative for risk assets, a broad category that includes equities and cryptocurrencies, McGlone believes Bitcoin is in a unique position to outperform in this environment:
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