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There's a Reason Bitcoin's Worth 500 Barrels of Oil: Bloomberg's McGlone

There’s a Reason Bitcoin’s Worth 500 Barrels of Oil: Bloomberg’s McGlone

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“Copper may be a good example of the low potential for a commodity supercycle, notably versus an advancing bitcoin,” McGlone wrote. “It’s not that profound to expect one of the best-performing assets of the past decade to keep outpacing the old-guard industrial metal, and we see bitcoin’s upper hand gaining endurance, and maturity, versus copper.”

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