The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
The Daily Hodl
No Result
View All Result

Bloomberg Strategist Says Laws of Supply and Demand To Boost Bitcoin (BTC) and Ethereum (ETH) Prices

by Daily Hodl Staff
November 2, 2022
in Bitcoin, Ethereum

Bloomberg Intelligence’s senior commodity strategist Mike McGlone is bullish on the top two largest cryptocurrencies by market cap.

McGlone says in a new interview that the declining supply of Bitcoin (BTC) and Ethereum (ETH) amid growing adoption will lead to price appreciation for the two crypto assets.

“In the top two, Bitcoin and Ethereum, there’s definable diminishing supply, by code. Now Ethereum is less by code but Bitcoin, clearly definable diminishing supply.

And you look over demand and adoption, they are clearly increasing. So it’s simple rules of Adam Smith and economics that prices have to go up over time unless something shifts that trajectory negative.

And I only see increasing adoption and demand increasing. And it’s still way early days. I mean less than 1% of global, way less than 1% of global equities, are in crypto.”

According to McGlone, one advantage that crypto assets such as Bitcoin and Ethereum have over traditional commodities is that they don’t incur storage space costs.

“Now Bitcoin and Ethereum, you can actually easily buy the assets as commodity, put it on your phone in storage and never have to pay for that storage.

In commodities, you still have to pay in average 5%, maybe 10% storage.”

Bitcoin is trading at $20,495 at time of writing while Ethereum is exchanging hands at $1,588.

I

Follow us on X, Facebook and Telegram

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Surf The Daily Hodl Mix

 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: DALLE-2

Submit a Press Release

Industry Announcements

  • MultiBank Group Confirms MBG Token TGE Set for July 22, 2025
    July 11, 2025
  • PEPESCAPE Launches Crypto Presale, Combining Memecoin Culture With Decentralized Finance Ecosystem
    July 10, 2025
  • Aptos Labs Expands Leadership With New Chief Business Officer
    July 10, 2025
  • Falcon Finance Unlocks Real-World Asset Utility With First Live USDf Mint Using Tokenized Treasuries
    July 10, 2025
  • MBG Token Pre-Sale Set for July 15 – Only Seven Million Tokens Available at $0.35
    July 10, 2025
  • YZi Labs Invests in Aspecta To Pioneer Universal Price Discovery Infra for Trillion Illiquid Assets
    July 10, 2025
  • NovaEx Launches With a Security-First Crypto Trading Platform Offering Deep Liquidity and Institutional-Grade Infrastructure
    July 9, 2025
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$117,581.50
$117,581.50
4.05%
Ethereum
$2,973.20
$2,973.20
5.57%
BNB
$694.31
$694.31
3.22%
Solana
$162.94
$162.94
2.76%
XRP
$2.79
$2.79
12.41%

Spotlight

  • Economist Alex Krüger Outlines Three Bullish Catalysts for Bitcoin, Says Upcoming BTC Breakout Will Be ‘Explosive’
    July 4, 2025
  • Crypto Analyst Says Bitcoin Will ‘Leave People in Awe’ Once BTC Breaks Out, Outlines Path Forward for XRP
    July 4, 2025
  • ‘I Don’t See How We’ll Do That’: JPMorgan’s Chief Global Strategist Says White House’s 3% US Economic Growth Projection Unsustainable
    July 4, 2025
  • Fundstrat’s Tom Lee Says Ethereum Should Be ‘Worth a Lot More Money,’ Outlines ETH’s Path to $10,000
    July 4, 2025
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Covering the future of finance, including macro, bitcoin, ethereum, crypto, and web 3.

Categories

Bitcoin • Ethereum • Trading •
Altcoins • Futuremash • Financeflux •
Blockchain • Regulators • Scams •
HodlX • Press Releases

 

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON X

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2025 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise

© 2025 The Daily Hodl