Bloomberg's senior commodity strategist, Mike McGlone, has stated that Bitcoin (BTC) is "untouchable" despite ongoing regulatory pressures in the crypto sector. He also believes that those who don't have some crypto exposure are "seriously silly." McGlone stated that there is so much disdain about regulators pushing back on the whole space, but Bitcoin sticks out because "you can't do anything to this, and you can't kill it and it's just unprecedented; it is untouchable." He added that Ethereum could be considered a security, which is why Bitcoin is fine and impressive. McGlone is still bullish on BTC but expects the price to go down again in step with other assets if a recession hits. He believes it's "seriously silly" to risk not having some exposure to crypto or trying to stand in its way. (Cointelegraph)
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