The cryptocurrency community believes that Bitcoin was created for similar global turbulence. However, its performance during the COVID-19 crisis is was no means shine.
But billionaire Mike Novogratz believes the worst is over. Now he has a key moment associated with halving. He said this in an interview with CNBC.
Mike Novogratz at CNBC: BTC awaits a key moment
The founder of Galaxy Digital sees the biggest advantage of the cryptocurrency in that the already low inflation will be reduced after halving. Novogratz said that endless monetary stimuli could hurt the economy as a result.
We have more and more fiscal stimulus applied by central banks. More and more people say they want something untouchable.
Halving is supposed to bring cryptocurrency to almost zero inflation. The investor also focused on the oil and commodities market.
According to him, the collapse of oil prices must sooner or later also be included in the share price. Therefore, he has most of them in short in his portfolio. On the contrary, he has bought enough gold and Bitcoin.
The economy is in a bad way. And it will be bad for a while.
Novogratz is one of the long-standing bulls that do not leave Bitcoin despite its declines. He still predicts the future in the form of digital gold.
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