$100,000 Bitcoin Price Could Come as Early as Next Month

Mike McGlone, Bloomberg Intelligence Commodity Strategist, tells our Daniela Cambone there is a high probability the U.S. follows Canada by creating cryptocurrency ETFs, with strong pressure building for U.S. regulators to allow them.

McGlone says he has underestimated the reallocation of capital from gold to Bitcoin and Ethereum this year, with cryptocurrencies limited supply overtaking the precious metal.

"The U.S. stock market is overdue for a wobble," says McGlone, which will force central bankers to turn up the spickets even more. He believes that this base case will only further add to the divergent strength of the strongest cryptocurrencies. Video by Stansberry Research.