Mike Novogratz Reassures His Faith in Bitcoin
The performance of Bitcoin this year has been good such that the cryptocurrency put up a massive price upsurge within a few weeks from $7k to $9k. At press time, the price of BTC was at $9,355.88
Recently, Mike Novogratz of Galaxy Digital spoke during an interview, noting that the price of Bitcoin would keep rising this year.
According to him, a huge amount of liquidity in the United States economy and USD debasement were making people see the need for Bitcoin. He also mentioned that he is now completely confident in Bitcoin investment due to the upsurge in Bitcoin price during US-Iran tensions and the Coronavirus outbreak. The cryptocurrency has been able to prove that it may be considered a dependable alternative, said Novogratz.
He continued that Bitcoin is digital gold:
“It is a weapon in people’s portfolio… Bitcoin is a version of gold. We call it digital gold and we’re putting in plumbing all around the system to allow more and more people to buy it so it trades much, much better.”
However, he did not precisely forecast Bitcoin price in the latest interview, like he did in a previous interview with CNN in 2019 when he said he was expecting a strong upsurge in the price of Bitcoin into the end of this year and early 2021 to attain fresh all-time highs.
Featured image courtesy of CNBC. Source: Cryptopress.