Bitcoin has outperformed Bloomberg Galaxy Crypto Index this year
"The key fact is I think it's going to continue to outperform most other cryptos, particularly the Bloomberg Galaxy Crypto Index," he said.
This diverse basket of cryptocurrencies has substantially underperformed Bitcoin this year. The leading cryptocurrency by market capitalization is up 138% on a daily basis, currently changing hands at $100,787. McGlone did not realize that the leading cryptocurrency could move up by another 30% or 40%. However, in order to double in value next year, U.S. stocks would also need to go up by roughly 30%, according to McGlone.
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