Mike Novogratz, CEO of Galaxy Digital investment bank, believes that Bitcoin could follow the path of gold. However, despite the recent growth of BTC, its true nature still has to prove itself.
Bitcoin is growing despite expectations. Most commentators and investors expect a sharp fall, but with the slow-paced Chinese economy, it is quite possible that the crisis will not be as deep as projected. From a global point of view. That’s why many people wonder where to put their money now. Mike Novogratz has the clear message: Bitcoin or gold. Ideally both.
According to Novogratz, both assets are driven by the same thesis. That is, trying to cope with falling markets that are ubiquitous. Investors are therefore looking for a way to keep their capital for the next time. Due to its security, Bitcoin seems to be a good choice. Gold, on the other hand, is a historically proven safe harbor that has performed well during most crises.
The big slowdown of the Chinese and subsequently European economies had to logically affect cryptocurrencies. These followed a sharp decline in stocks and stock indices. Many investors have therefore begun to ask whether Bitcoin is still a standalone unit.
However, Mike Novogratz thinks so.