Bitcoin ($BTC) Outperforms Crude Oil!

The post Bitcoin ($BTC) Outperforms Crude Oil! appeared first on Coinpedia Fintech News

As per the recent news, Mike McGlone, the Chief Commodity Strategist at Bloomberg Intelligence (BI), has shared block of the recent report published by the analytics agency he works for. As per the reports, Bitcoin and a few other assets have been significantly outperformed one fundamental asset lately which is “crude oil”. McGlone stated that crude oil is currently on the bottom of his “annual macroeconomic-performance scorecard,” while assets like Bitcoin, Gold and the S&P 500 index are the top picks. Notably, these three outperforming crude oil is due to the rapidly advancing technology sphere, rising geopolitical tension, and commodity deflation. While crude oil is going down $50, Gold is trading at $3,000 and Bitcoin is changing hands at ~$97k today.