Bitcoin (BTC) Wannabes and Dogecoin (DOGE) vs BTC - Mike McGlone's Message to the Crypto Community

Chief commodity strategist at Bloomberg Intelligence Mike McGlone has published an X post about Bitcoin, Dogecoin and “2.4 million of so-called cryptocurrencies.”

Bloomberg Intelligence's chief commodity strategist Mike McGlone shared his thoughts on Bitcoin, Dogecoin and the wider crypto market in his latest X post.

McGlone had a surprising prediction about Dogecoin and other small-cap altcoins.

“2.4 million Bitcoin wannabes” and Dogecoin vs BTC

McGlone's message to the crypto community on X focused on altcoins and meme coins in particular. He referred to both as “Bitcoin wannabes,” highlighting that there are 2.4 million of them in the market.

He called all of them “so-called cryptocurrencies,” stating that Dogecoin is one of them and that “future generations may look back upon them akin to the dot-com bubble.”

Bloomberg's expert noted that Dogecoin, which has a market capitalization of $68 billion, has “1,999 inklings.” He also categorized DOGE and similar cryptocurrencies as “unlimited supply cryptos” that will compete with Bitcoin (limited to only 21 million with more than 19 million coins mined already) and precious metals — silver, gold, platinum and palladium, which, except for gold, belong to the Platinum Group Metals.

Bitcoin to $175,000 - $350,000 in 2025 per Robert Kiyosaki

On New Year's Eve, renowned investor and financial guru Robert Kiyosaki shared his Bitcoin price prediction, stating that he expects the world's pioneer cryptocurrency to spike to a minimum of $175,000 in 2025 and perhaps even double that growth, reaching $350,000.

With this statement, he doubled down on his $350,000 price forecast made earlier in December. Over the weekend, Kiyosaki announced that the biggest market crash had arrived, urging the community to save Bitcoin, silver and gold. On Friday, the author of the best-selling book "Rich Dad Poor Dad" tweeted that BTC had made him rich and will continue to make him even richer. He intends to keep buying BTC since this asset keeps going up even during market crashes.

Kiyosaki often highlights the money printing conducted by the Federal Reserve and the U.S. Treasury, calling that “fake money” printing. He pointed out that those who save “fake money” become poorer, while those who save “real assets,” such as Bitcoin, silver and gold, become wealthier.

Today, Bitcoin managed to regain the $99,000 level after a substantial increase overnight. At the time of writing, Bitcoin has recovered above the $101,000 price point.