Galaxy Digital CEO Mike Novogratz shared his predictions about the leading cryptocurrency Bitcoin and the largest investment tool, Gold, in his recent statements.
Mike Novogratz made statements that excited investors in these statements. Here are the details…
Exciting Statement by Mike Novogratz
Cryptocurrency billionaire and Galaxy Digital CEO Mike Novogratz made remarkable statements about Bitcoin and Gold. In his statements, Novogratz stated that both of these competing assets can protect against the depreciation of fiat currencies.
These statements by Novogratz on Bitcoin and Gold came in response to Euro Pacific Capital CEO Peter Schiff attacking Dave Portnoy of Barstool Sports for his comments about Bitcoin.
Last year, Jurrien Timmer, director of Global Macro at mutual fund giant Fidelity Investments, stated that Bitcoin’s limited supply is a huge advantage over Gold. A recent report by the Boston-based investment giant reinforced the “better than gold” argument.
However, Bitcoin is in a highly competitive position to displace Gold as the leading store of value. Hence, there is great hostility between the investors of the two assets.
However, Novogratz says that he has long loved both of these beings. However, Novogratz stated in his statements last October that the leading cryptocurrency Bitcoin will continue to reduce the market share of Gold.
What is the Latest Situation in Bitcoin?
Bitcoin (BTC), the largest cryptocurrency in terms of market value, has been on the rise with the increase that started last day. The flagship cryptocurrency is currently continuing its bullish momentum.
So much so that as of the time of writing the content, Bitcoin continues to trade at $44,056 with an increase of 1.06% in the last 24 hours, according to CoinMarketCap data.