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Mike Novogratz: Buy Bitcoin when central banks let money grow on trees

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Mike Novogratz: Buy Bitcoin when central banks let money grow on trees
Bloomberg.com

Mike Novogratz is convinced that when central banks make money grow on trees, then it’s time to buy Bitcoin.

 

‘Money doesn’t grow on trees’ is a popular expression that parents constantly hammer into the heads of their children. It means that money is a limited resource and encourages people to put in a significant effort in order to obtain it.  However, this fable apparently doesn’t apply to the U.S. Federal Reserve and the Bank of England, who unleashed unlimited liquidity to save the ailing global economy from the coronavirus-driven fallout. 

 

As absurd as it sounds, fiat money does grow on trees in 2020 (at least for central banks).  Mike Novogratz, the CEO of Galaxy Digital, has one message for his followers – buy Bitcoin (BTC). 

 

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