Close Menu
  • Coins
    • Bitcoin
    • Ethereum
    • Altcoins
    • NFT
  • Blockchain
  • DeFi
  • Metaverse
  • Regulation
  • Other
    • Exchanges
    • ICO
    • GameFi
    • Mining
    • Legal
  • MarketCap
What's Hot

Solana leads all blockchain networks in revenue with $1.25 billion in 2025

12/09/2025

Aave takes precautions as Scroll governance faces uncertainty

12/09/2025

HashKey Launches STBL Tokenized Note Backed by AAA Funds

12/09/2025
Facebook X (Twitter) Instagram
  • Back to NBTC homepage
  • Privacy Policy
  • Contact
X (Twitter) Telegram Facebook LinkedIn RSS
NBTC News
  • Coins
    1. Bitcoin
    2. Ethereum
    3. Altcoins
    4. NFT
    5. View All

    Price Breaks All-Time High Record Again – Here’s What We Know

    04/08/2025

    Bitcoin Switzerland? El Salvador to Host First Fully Native Bitcoin Capital Markets

    04/08/2025

    Bitcoin Breaks $119K, but XLM and HBAR Aren’t Impressed by Its Meager Percentage Gain

    04/08/2025

    High-Stakes Consolidation Could Define Q3 Trend

    04/08/2025

    Will an Ethereum Run Make It Hard for ETH Treasuries to Raise Cash?

    12/09/2025

    SharpLink Will Explore Staking Portion of $3.6 Billion Ethereum Treasury on Linea, CEO Says

    12/09/2025

    Ethereum Staking Queue Overtakes Exits as Fears of a Sell-off Subside

    12/09/2025

    What is Ethereum (ETH)? A Beginner’s Guide to the Smart Contract Blockchain

    12/09/2025

    The Sui Ecosystem’s Top 3 Altcoin Performers

    29/07/2025

    Floki Launches $69000 Guerrilla Marketing Challenge With FlokiUltras3

    28/07/2025

    Crypto Beast denies role in Altcoin (ALT) crash rug pull, blames snipers

    28/07/2025

    $1.6 Billion XRP Surge: Here’s What’s Unfolding

    28/07/2025

    NFT Social Engagement Soars as LINK, PENGU, and APE Dominate Rankings

    11/09/2025

    Tokenized Pokémon Cards Are Hot. Lending Them for Crypto Is a Different Story

    10/09/2025

    Ordinals Scrapyard turns Bitcoin NFT wreckage into tax write-offs

    09/09/2025

    OpenSea Makes Big Moves in Final Sprint to $SEA

    09/09/2025

    Solana leads all blockchain networks in revenue with $1.25 billion in 2025

    12/09/2025

    Aave takes precautions as Scroll governance faces uncertainty

    12/09/2025

    HashKey Launches STBL Tokenized Note Backed by AAA Funds

    12/09/2025

    Russian government advisor leads push for domestic crypto bank

    12/09/2025
  • Blockchain

    Solana leads all blockchain networks in revenue with $1.25 billion in 2025

    12/09/2025

    Key Blockchain Events That Could Shape Market Sentiment

    12/09/2025

    WINkLink Joins CoinEx to Accelerate Blockchain Adoption

    12/09/2025

    Jack Ma’s Ant Digital Taps Blockchain to Tokenize $8.4B in China’s Energy Assets: Report

    12/09/2025

    Tokenization Platform Onino Integrates Genesys Chain’s Web3 Infrastructure to Accelerate Tokenized RWA Access on DeFi Economy    

    12/09/2025
  • DeFi

    Aave takes precautions as Scroll governance faces uncertainty

    12/09/2025

    Aave Cumulative Revenue Soars Past $200M: A Milestone Achievement

    11/09/2025

    Circle and Tether bug bounties aren’t enough says LlamaRisk

    11/09/2025

    DeFi platform Salus brings critical minerals to IOTA chain

    11/09/2025

    Finery Markets Brings Institutional Investors Into DeFi With Yield.xyz Integration

    11/09/2025
  • Metaverse

    Metaverse ‘still has a heartbeat’ as NFT sales jump 27% in August

    12/09/2025

    CreataChain Joins LightCycle to Advance Fashion, Interoperability, and AI in Metaverse

    05/09/2025

    new institutional ‘trust’ layer to boost tokenized ESG investment

    04/09/2025

    Metaverse developer The Sandbox lays off 50% of staff and pivots to meme coin launchpad

    28/08/2025

    Meta Breaks Up AI Lab as Part of Superintelligence Push

    20/08/2025
  • Regulation

    HashKey Launches STBL Tokenized Note Backed by AAA Funds

    12/09/2025

    Jump Trading Alums Raise $20M for aPriori to Bring High-Frequency Trading Tools On-Chain

    12/09/2025

    Analysts raise Nvidia (NVDA) stock price targets

    12/09/2025

    Stablecoin Infrastructure Pioneer M0 Secures Massive $40M Funding

    12/09/2025

    Startup Mo Raises $40M Series B as VCs Pile Into Stablecoins: Report

    12/09/2025
  • Other
    1. Exchanges
    2. ICO
    3. GameFi
    4. Mining
    5. Legal
    6. View All

    Altcoin in the Spotlight Announces $530 Million Deal and an Additional $310 Million Purchase

    11/09/2025

    Coinbase adds Sei, Pepe, Bonk and PUMP as collateral for perpetual futures trading

    11/09/2025

    Largest Russian bank Sberbank set to launch Bitcoin and Ethereum crypto derivatives

    11/09/2025

    Alchemy Pay Enters South Africa, Offers Support for ZAR On-Ramps via Bank Transfers

    11/09/2025

    ICO for bitcoin yield farming chain Corn screams we’re so back

    22/01/2025

    Why 2025 Will See the Comeback of the ICO

    26/12/2024

    GameFi.org Joins Somnia to Accelerate Blockchain Gaming Advancement

    10/09/2025

    Intelligent Agents Set to Reshape Blockchain Gaming Ecosystems, Gaming Director Says

    09/09/2025

    XRPL Gamechain Testnet and Pudgy Party Launch

    08/09/2025

    SolPlex Game Launch on Epic Games Marks a New Era for Web3 Gaming

    08/09/2025

    Brazil Clamps Down on Illegal Rio de Janeiro Crypto Mining Operation

    12/09/2025

    Hong Kong Police Arrest Two Over Alleged Crypto Mining in Care Homes

    11/09/2025

    Bitcoin’s Computing Muscle Hits 1,027 EH/s Benchmark, But Hashprice Shrinks 8.39%

    11/09/2025

    Bitmain files an emergency motion in a U.S. bankruptcy court to reclaim 2,700 Antminer servers from Orb Energy

    11/09/2025

    Russian government advisor leads push for domestic crypto bank

    12/09/2025

    Strategic Hire of SEC Veteran Boosts Trust

    12/09/2025

    Top U.S. Banking Regulator Gould Says Crypto Debanking ‘Is Real’

    12/09/2025

    Senators Still Hopeful for Crypto Market Structure Law by End of Year

    12/09/2025

    Solana leads all blockchain networks in revenue with $1.25 billion in 2025

    12/09/2025

    Aave takes precautions as Scroll governance faces uncertainty

    12/09/2025

    HashKey Launches STBL Tokenized Note Backed by AAA Funds

    12/09/2025

    Russian government advisor leads push for domestic crypto bank

    12/09/2025
  • MarketCap
NBTC News
Home»Bitcoin»Key Reason Why Bitcoin Nearing $70,000, Per Bloomberg’s Mike McGlone
Bitcoin

Key Reason Why Bitcoin Nearing $70,000, Per Bloomberg’s Mike McGlone

NBTCBy NBTC25/03/2024No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email


Mike McGlone, senior commodity strategist at Bloomberg, published a tweet about Bitcoin nearing the $70,000 level and what may happen to the gold price, while it is happening.

McGlone has named two main reasons why Bitcoin can soar to $70,000 and gold price may dump.

What may happen to gold as Bitcoin heads for $70,000: McGlone

Bloomberg’s expert mentioned the recent Bitcoin price surge and that BTC is likely targeting the $70,000 now. In the meantime, he stated, gold, which is considered a BTC rival in the world of physical assets by many parameters, and mainly as a safe haven asset, the current monstrous inflows into spot Bitcoin ETFs may “leave the metal looking naked in portfolios.”

What of #Gold With #Bitcoin Nearing $70,000? Crypto Money Pull – The juxtaposition of #China rapidly accumulating gold and record inflows into US Bitcoin #ETFs may leave the metal looking naked in portfolios if not paired with some of the crypto. Gold ETF outflows and declining… pic.twitter.com/Hk0pt6XeYO

— Mike McGlone (@mikemcglone11) March 1, 2024

Despite the fact that China is quickly acquiring gold, McGlone stressed, a tremendous wave of interest is now aimed at Bitcoin-based exchange-traded funds which were recently approved by the Securities and Exchange Commission after almost a decade of lobbying. Many investors are taking their funds out of gold ETFs and are sending them into Bitcoin funds. Besides, the expert mentioned a declining gold futures interest.

Bitcoiner Michael Saylor dismisses gold

As reported by U.Today recently, vocal Bitcoin evangelist and head of MicroStrategy Michael Saylor published a tweet in which he showed that since August 2020, when the business intelligence giant began to regularly stock up on BTC, the flagship cryptocurrency has skyrocketed by 333% – and that was before the current surge to the $64,000 level. Earlier this week, MicroStrategy made another massive Bitcoin purchase, grabbing approximately 3,000 BTC for $155 million.

As for gold, Saylor tweeted that over the past three and a half years, it has declined by 1%. As of February 29, gold traded at $2,048 per ounce.

Earlier this week, Michael Saylor made a call on the global BTC community, urging them not to sell their Bitcoin as the cryptocurrency soared above $61,000 and then headed on to the $64,000 level.

At the time of this writing, Bitcoin is changing hands at $62,424. With the fourth Bitcoin halvening event less than two months away, many experts from the cryptocurrency space are making bullish predictions. Among them is Adam Back, founder of BlockStream, who expects BTC to hit $100,000 before the halving.


Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
NBTC

Related Posts

Price Breaks All-Time High Record Again – Here’s What We Know

04/08/2025

Bitcoin Switzerland? El Salvador to Host First Fully Native Bitcoin Capital Markets

04/08/2025

Bitcoin Breaks $119K, but XLM and HBAR Aren’t Impressed by Its Meager Percentage Gain

04/08/2025

High-Stakes Consolidation Could Define Q3 Trend

04/08/2025
Add A Comment

Comments are closed.

Top Posts
Get Informed

Subscribe to Updates

Get the latest news from NBTC regarding crypto, blockchains and web3 related topics.

Your source for the serious news. This website is crafted specifically to for crazy and hot cryptonews. Visit our main page for more tons of news.

We're social. Connect with us:

Facebook X (Twitter) LinkedIn RSS
Top Insights

Solana leads all blockchain networks in revenue with $1.25 billion in 2025

12/09/2025

Aave takes precautions as Scroll governance faces uncertainty

12/09/2025

HashKey Launches STBL Tokenized Note Backed by AAA Funds

12/09/2025
Get Informed

Subscribe to Updates

Get the latest news from NBTC regarding crypto, blockchains and web3 related topics.

Type above and press Enter to search. Press Esc to cancel.