Bitcoin vs. Gold: Bloomberg Analyst Warns of BTC Momentum Loss Amid MicroStrategy’s Massive Buy

Bloomberg’s senior commodity strategist Mike McGlone suggests Bitcoin may be losing momentum to gold as market volatility declines. He notes that the VIX (Chicago Board Options Exchange Volatility Index) is falling, signaling reduced stock market turbulence. As a result, gold is outperforming riskier assets, including Bitcoin. McGlone raises the question of whether BTC has peaked near $100,000 or if it's merely undergoing a temporary correction before another surge.

Despite this, Michael Saylor’s company, Strategy (formerly MicroStrategy), continues its aggressive Bitcoin accumulation. The firm recently purchased 7,633 BTC worth approximately $742 million, reinforcing its long-term commitment to Bitcoin. Earlier this year, Strategy stunned the market by acquiring $1.1 billion in BTC in a single purchase.

Since August 2020, Strategy has consistently accumulated Bitcoin, utilizing capital raised through stock offerings. Its Q4 2024 report revealed record-breaking BTC inflows, as the company deployed billions in proceeds toward additional acquisitions.

As of now, Bitcoin is trading just above $97,000. While McGlone warns that gold could gain an edge, Strategy’s relentless buying spree suggests confidence in Bitcoin’s future potential.