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Mike Novogratz claims that most cryptocurrencies do not survive. BTC can stay forever!

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Mike Novogratz claims that most cryptocurrencies do not survive
 source: www.shutterstock.com/Rasica

Mike Novogratz. The investor, founder and CEO of Galaxy Digital is one of the biggest optimists about BTC and cryptocurrencies.

He encouraged investors not to cling to the frequent daily fluctuations that BTC is capable of, but to look at it in the long run.

Novogratz believes in cryptocurrencies, but not all

“Similar bubbles and mania happen exactly around the things that will fundamentally change the way we live. Finances as we know them today will be disrupted and in a way replaced decentralized system. I’m pretty sure of that, “said Novogratz.

Much of this BTC “madness” is focused primarily on its basic and evolutionary technology, Novogratz noted. He goes on to say that cryptocurrencies represent completely new technologies and conveniences for humanity, and it is not just about immediate and short-term return from trade.

Optimism from BTC is mainly that we believe in a radical change in how today’s monetary system works. Nevertheless, BTC has grown by almost 300% in the last 12 months. And despite the fact that BTC currently costs less than $ 50,000, its value can easily reach more than half a million dollars in ten years, says Mike Novogratz.

BTC is the strongest and most popular cryptocurrency. In addition to it, there are thousands of others with much less value, some of which have the potential to stay with us for a long time. But many of them will not survive. “I’d bet that 75% of cryptocurrencies fail in this decade,“ Added Novogratz.

We also need to think about regulations

Although the cryptospace is full of lucrative investors and there are many opportunities to “pour” money into these projects, it should be borne in mind that we will still have to come to terms with regulation cryptocurrencies.

However, it is still unclear which regulator will oversee the crypto market. This is mainly because it is still unclear whether cryptocurrencies will be officially considered currencies or securities.

Mike Novogratz commented that some regulations and laws would certainly be useful, but also considers a degree of freedom to be important.

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All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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