Veteran Economist Calls Shorting Bitcoin the Best Bear Market Strategy

Veteran economist Alasdair Macleod has sparked controversy by declaring that shorting Bitcoin is the most profitable strategy during the current bear market. His bearish stance has drawn strong reactions from the crypto community, with some urging him to act on his own advice. "Strongly encourage you to follow through with this suggestion with extreme size and leverage," one user responded sarcastically on social media.

Macleod, who began his financial career as a stockbroker on the London Stock Exchange in 1970, has consistently criticized Bitcoin. In 2023, he dismissed the cryptocurrency as merely "an outlet for speculation," reinforcing his long-standing preference for gold. His recent remarks have reignited debates between traditional financial experts and digital asset advocates.

Adding fuel to the bearish sentiment, Bloomberg's senior commodity strategist Mike McGlone has also issued a dire prediction for Bitcoin, suggesting it could “lose a zero” in value. These pessimistic views contrast sharply with the optimism of Bitcoin supporters, who see the cryptocurrency as a hedge against inflation and a long-term store of value.

As Bitcoin struggles to maintain momentum amid a broader market downturn, the debate over its future continues to intensify. The crypto community remains divided, with some bracing for further volatility and others seeing the dip as a buying opportunity. With influential voices like Macleod and McGlone voicing concern, traders and investors are watching closely to determine whether this bear market signals a deeper correction—or simply another cycle in Bitcoin’s turbulent journey.