Jamie Coutts sits down with Bloomberg Intelligence commodity strategist Mike McGlone for a sharply contrarian discussion on bitcoin, gold, and the future of digital assets. In this exclusive preview, Mike explains why he believes bitcoin’s “glory days” are behind it, arguing that its deteriorating risk-adjusted returns no longer compensate investors for the volatility they take compared with the S&P 500. At the same time, Mike remains bullish on tokenization, stablecoins, and blockchain-based financial infrastructure, even as he believes much of the speculative crypto market still needs to be purged. Jamie challenges his thesis, questioning whether falling bitcoin volatility could make the asset more attractive to institutions, while they also examine the Fed, tighter policy, and the growing macro headwinds facing bitcoin and gold. Watch the full conversation on Real Vision. 🔥 Get 𝗙𝗥𝗘𝗘 𝗔𝗖𝗖𝗘𝗦𝗦 to Real Vision https://rvtv.io/3YOZZUe Timestamps: 00:00 - Jamie Coutts Welcomes Mike McGlone 01:13 - Why Mike Loves Being Contrarian 02:39 - From the Trading Pits to Bitcoin 03:33 - How Mike First Got Into Crypto 04:19 - Why He Thinks Bitcoin’s Glory Days Are Over 05:27 - Bloomberg’s Early Crypto Debate 07:16 - Why Mike Is Still Bullish on Tokenization 08:16 - Does Crypto Still Need a Major Purge? 09:22 - Why Mike Is Bearish on Gold Too 10:37 - Jamie Pushes Back on the Crypto Thesis 12:00 - Why Mike Thinks Bitcoin Needs a Lower Price 12:39 - Bitcoin’s Risk-Adjusted Return Problem 14:23 - Does Falling Volatility Help Bitcoin? 15:19 - Why Mainstream Adoption Changed the Trade 16:31 - Gold Volatility Sends a Warning 17:07 - The Fed Becomes a Headwind for Bitcoin 18:03 - Is This Just a Bounce to Sell? About Real Vision™: We arm you with the knowledge, the tools, and the network to succeed in your financial journey. Connect with Real Vision™ Online: Twitter: https://rvtv.io/twitter Instagram: https://rvtv.io/instagram Website: 🔥 https://rvtv.io/3Y4t5Pw 📈 Get your Real Vision swag: https://shop.realvision.com 📣 Elevate your brand with Real Vision. Connect with us at partnerships@realvision.com to explore advertising possibilities. Disclaimer: https://media.realvision.com/wp/20231004185303/Disclaimer-1.pdf #bitcoin #crypto #mikemcglone #jamiecoutts #btc #tokenization #stablecoins #federalreserve #gold #sp500 #investing #macro #markets #digitalassets #realvision