A Bloomberg Intelligence analyst predicts the U.S. to further adopt cryptocurrencies in 2022 amid bullish price implications and implementation of proper government regulations.
Cryptocurrencies Bitcoin and Ethereum stand to benefit from the declining bond yields, Bloomberg Intelligence analyst Mike McGlone wrote in a report published Dec. 6.
“The inability of the U.S. Treasury long bond to sustain above 2%, despite widespread consensus for higher yields, may be a primary indicator of a transition back to a more deflationary environment in 2022 favoring Bitcoin,” McGlone noted.
He said the long bond first declined below the threshold of 2 percent in February 2020, reflecting the severity of the COVID-19 pandemic.
McGlone also offers an analysis of the Bloomberg Galaxy Crypto Index versus the S&P 500 and predictions on the performance of crypto dollars, Bitcoin and Ethereum over the next year.
On Jan. 27, the Potomac Officers Club will bring together distinguished government and industry leaders to offer the GovCon community an insight into the national security aspect of digital currencies.
POC’s Digital Currency and National Security forum will feature National Cyber Director Chris Inglis; and Juan Zarate, global co-managing partner and chief strategy officer at K2 Integrity, as keynote speakers.
