Mike Novogratz: gold and bitcoin are safe assets

The CEO of Galaxy Digital claims that such investments will protect investors from inflation

17.02.2022 - 11:40

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What’s new? Galaxy Digital CEO Mike Novogratz has called for an end to the debate on bitcoin and gold. The cryptocurrency billionaire posted on his Twitter that both assets can protect investors from inflation.

Everything doesn’t have to come from a position of either or. The gold charts look good. You can be bullish gold and $BTC. Both are perceived as stores of value to protect against debasement of fiat. Gold underperformed for a while. $BTC and crypto are in an adoption cycle https://t.co/qZxdfQqb2q— Mike Novogratz (@novogratz) February 15, 2022

What is the billionaire’s opinion on cryptocurrency? Previously, Novogratz has repeatedly stated that bitcoin can overtake gold in terms of capitalization shortly. However, he has now suddenly changed his mind on the matter, writing:

“Everything doesn’t have to come from a position of either or. The gold charts look good. Gold underperformed for a while. BTC and crypto are in an adoption cycle.”

Also, the CEO of Galaxy Digital offered the well-known bitcoin skeptic Peter Schiff a $1 million bet. Novogratz promised to donate the money to any place of Schiff’s choosing if bitcoin stays below $35 000 by the end of the year.

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