Mike Novogratz Adamant That Bitcoin (BTC) will not fall for $ 0


Mike Novogratz, a former Blockcoin fanatic and a Bitcoin fanatic, a former member of Wall Street, has recently doubled his pro-cryptic sentiment, although this child market continues to suffer from shortages.

Revolutions do not happen overnight, including cryptography

In an exclusive interview with Bloomberg, Novogratz, a member of the head of Fortress Financial, head of the crypt-centric of the merchant bank, provided some key information on his personal perspective on blockchain-based assets and decentralized applications. Surprisingly, the irreducible, who reportedly holds 20% of his personal fortune in criptovalute (like Ethereum & # 39; s ETH), has maintained his optimistic view.

Speaking with Erik Schatzker, the media editorial, Mike "Novo" Novogratz began the candid conversation by joking about the fact that he became the "ugly" Bitcoin industry, far from his months as a child poster (and savant apprentice) of cryptocurrencies. However, despite its rediscovered classification as a "bad face" in the sector, he explained that he still believes in the technology behind Bitcoin – blockchain – and digital resources themselves.

Yet, Novo explained that "the revolutions do not happen from one day to the next", adding that it became evident that the monumental gathering of 2017 was a bubble when "people approached me who wanted to do selfies", because it was now clear that the encrypted assets were planned for the plateau and the pullback.

The industry insider obviously refers to the feeling that encryption will not be an easy task, since a pushback is expected from traditionalists and pro-centralists. Travis Kling, founder and showrunner of the Crypto Hedge Fund Ikigai, recently explained to TD Ameritrade Network that is ahead of the crypto industry, adding that most of Bitcoin's 10-year history has started to make its way.

For the same reason, the supporter of the cryptocurrency has explained that most of the advertising and development that has fallen on cryptocurrencies, namely Bitcoin, has come in the last 18-24 months, not during the expansion of this ecosystem. As such, Kling explained that the revolution of cryptocurrency is a "multi-year, decades-old" game, rather than a possibility of short-term profits.

Bitcoin will become digital gold

Returning to Novogratz, the representative Galaxy Digital then touched what is in store for Bitcoin. Resuming the comments he had made earlier on CNN Money, the head of industry noted that BTC will probably become digital gold, subsequently joking that the resource will become a "legal pyramid scheme". By rationalizing his statement, Novogratz drew attention to the recent incursion of Yale University. in cryptocurrencies, adding that some of the smartest people, such as Yale's showrunner, David Swensen, see the value in Bitcoin and its innovations.

It is interesting to note that Kling has also touched on this value proposition, pointing out that there is no chance that Bitcoin will meet everyone's expectations, becoming a safe, immutable, decentralized transaction layer, resistant to censorship and cost and effective over time, while hosting the second coming of gold at the same time. He added that although BTC only accounts for 10% of the gold market capitalization, there is still a nine-fold growth potential for the popular digital asset.

Still, some say that the market capitalization of BTC could exceed that of gold itself, as stated by Bobby Lee and Adam Back.

In sum, summarizing his points, Novogratz noted that BTC at $ 20,000 was a "drug", but then added that it would not be taken aback by stating that it would go to zero. Instead, he explained that the current state of the market is only consumers who visit the methadone clinic, rather than the end of Bitcoin as a whole.

Although it has an obvious interest in the future success of this 10-year industry, consumers would not mind putting aside Novo's comments. However, as is common practice for investors, the comments of the CEO of Galaxy Digital should be taken with a pinch of salt.

Regardless, the fact is that many industry insiders are not ready to bow, even though countless start-ups and "fairweather" investors are approaching collapse.

Source link