Galaxy Digital CEO, Michael Novogratz shared another positive forecast for the future of key digital assets. Despite the ongoing collapse of cryptocurrencies, he still sees Bitcoin as a better version of gold.
In a recent interview with Bloomberg, he believed that Bitcoin and Altcoins represent the future of the financial world. Novogratz opposed the central bank and Treasury Department, which printed huge sums of money during the pandemic. For him, people will need hard assets such as real estate, gold, and ”certainly crypto” to protect themselves from the harsh consequences of mass printing.
He compared Bitcoin to gold and even believed that the main cryptocurrency was a better version. He recalled that in the early days, people were scared of digital assets, but recently, hedge funds and even insurance companies have started to accept it:
”I look at Bitcoin, in particular, like digital gold, and Bitcoin is a better version. You can see not only millennials moving towards crypto but the whole world.”
Michael Novogratz not only supports Bitcoin but also some altcoins. He sees them as innovations that will make the financial markets of the future “more transparent and fairer”.
Once a Bitcoin Maximalist, Always a Bitcoin Maximalist
Mike Novogratz has repeatedly shared his positive predictions about Bitcoin. By the end of 2020, he recommended that investors invest 2-3% of their net assets in virtual assets for long-term profits:
”Bitcoin is for everyone. Everyone should put 2% to 3% of their net worth in bitcoin and look at it in five years, and it’s going to be a whole lot more.”
He went further to explain why the market is so attractive to him:
”I got into crypto and BTC because I saw it as a revolution. It is a systems change. It’s the same reason I spend time advocating for social justice. The goals are the same.”