McGlone's analysis highlights the ongoing tug-of-war between risky assets like stocks and safer havens like gold. While stocks have dominated so far in 2024, he predicts gold's dip below $2,000 could be a temporary hurdle before a potential appreciation for the rest of the year.

But where does Bitcoin fit in? Enter the ETFs. These regulated funds open up Bitcoin exposure to a wider audience, making it easier to compare its performance against gold. Historically, Bitcoin has significantly outpaced gold, delivering 10x returns in the past year alone.

McGlone's key takeaway? Owning both gold and Bitcoin could be a strategic move. Bitcoin's high-growth potential complements gold's value-preservation role, potentially minimizing losses and maximizing returns during turbulent times.

This theory isn't without its critics. Bitcoin remains volatile, and its long-term viability as a safe haven is still debated. Additionally, a surging stock market could further dampen gold's appeal.

Whether Bitcoin truly becomes gold's digital counterpart remains to be seen. However, the launch of ETFs undeniably marks a turning point for the cryptocurrency, pushing it closer to mainstream adoption and potentially influencing how investors navigate the complex world of macroeconomics. As McGlone suggests, keeping an eye on both gold and Bitcoin could be a wise move for investors seeking to diversify their portfolios and weather unexpected economic shifts.