Bloomberg’s leading strategist, Mike McGlone, has issued a cautionary note regarding Bitcoin’s future valuation against gold. He suggests that the current Bitcoin-to-gold ratio, which stands at approximately 30 ounces of gold per Bitcoin, might plummet to the mid-teens if market instability resurfaces.
Such a decline would wipe out years of comparative gains and significantly weaken the narrative that digital currency enthusiasts have promoted since institutional investors began entering the crypto space.
Bitcoin is facing challenges as this warning emerges. The cryptocurrency attempted to surge past $124,000 before U.S. markets opened; however, within two hours, this upward momentum faltered and prices fell below $121,000.
Bitcoin Could Halve vs. Gold – Model vs. Volatility
It’s not surprising to anticipate stock-market volatility rebounding from its multi-year lows; this could lead to some mean reversion in how many ounces of gold equate to one Bitcoin.
Full report on Bloomberg here:… pic.twitter.com/eNG08TxyRz— Mike McGlone (@mikemcglone11) October 10, 2025
This situation partly unfolded when an enigmatic early adopter of Bitcoin initiated a $600 million short position on Hyperliquid’s derivatives platform targeting the primary cryptocurrency.
No Bitcoin, no party
Despite these developments, Bitcoin’s dominance has reached its highest point in nearly two months, indicating that investment within cryptocurrencies is shifting back towards it. However, there remains potential for gold to reclaim its advantage soon.
The market was further stirred by other assets without clear directionality: Gold dipped by 1% down to $4,035 while silver briefly exceeded $50 before retreating back down to $48.55 and altcoins continued their downward trend with Ethereum nearing $4,300 while BNB and Dogecoin each dropped around 4%.
In light of these circumstances all eyes are on Bitcoin once again.If McGlone’s analysis proves accurate reaching new record highs may not be what lies ahead as instead it could see half its value diminish compared against precious metals like those meant surpass long ago .