Bloomberg’s Mike McGlone: AI Risk Could Force Bitcoin Drawdown to $10,000

▶ Bitcoin Magazine Bloomberg’s Mike McGlone: AI Risk Could Force Bitcoin Drawdown to $10,000 Mike McGlone was one of the few Wall Street analysts to call $100K Bitcoin. Now the Bloomberg Intelligence senior commodity strategist says Bitcoin “can easily drop a zero” to $10,000. In this interview with Grace Remington and Sean Hagan, he explains why the ETF launch signaled the trade was over, why Bitcoin has become a “stock puppet” with high beta and no edge, and why a Fed priced for three hikes is a headwind for Bitcoin, gold and copper alike. He also covers the Middle East energy shock, midterm elections, the GENIUS Act and stablecoins, and why U.S. Treasuries are his next big trade.

First reported by Bitcoin Magazine. This page is a short excerpt; the full text is theirs.