Economist Alasdair Macleod recently stirred up the Bitcoin community by suggesting that betting against the cryptocurrency is the best strategy during the current bear market.
According to Macleod, shorting Bitcoin offers the most lucrative opportunity amid ongoing market challenges.
This bold stance has sparked reactions from crypto enthusiasts, with some urging Macleod to put his own advice into action.
One commenter even suggested he take a substantial position with significant leverage, reflecting the strong divide of opinions within the community.
Macleod, a veteran in the financial world who began his career on the London Stock Exchange in 1970, has consistently expressed skepticism about Bitcoin.
In 2023, he dismissed it as merely a speculative outlet, emphasizing his preference for traditional assets like gold.
Meanwhile, Mike McGlone, a senior commodity strategist at Bloomberg, has also voiced a grim outlook, suggesting that Bitcoin’s value could decrease significantly — possibly by losing a zero.
These contrasting perspectives highlight the ongoing debate about Bitcoin’s future amid market uncertainty.
Bitcoin could soon play an official role in Arizona’s public finance system. This week, state lawmakers approved the Arizona Strategic Bitcoin Reserve Act, a bill that would allow up to 10% of treasury and retirement fund assets to be invested in digital assets like Bitcoin.
Institutional hunger for Bitcoin is accelerating — and BlackRock is leading the charge.
Despite a rocky year for global markets, Presto’s head of research, Peter Chung, remains unfazed about Bitcoin’s long-term potential.
Bitcoin started the week strong, climbing past $94,000 and nearing the $95,000 mark, just as the market braces for important U.S. economic data.