Express
Billionaire Crypto Investor Calls Bitcoin Performance A Bubble, Despite Holding 20% Of Net Worth In Bitcoin And Ethereum
Summary: Crypto investor and CEO of Galaxy Investment Partners Michael Novogratz said the markets are in a liquidity-driven frenzy which could end with the U.S. presidential elections in a live interview with Bloomberg on Friday, August 14. Novogratz commented that everything is trading in a speculative frenzy and compared the market to Bitcoin in 2017. He cited ...
Crypto investor and CEO of Galaxy Investment Partners Michael Novogratz said the markets are in a liquidity-driven frenzy which could end with the U.S. presidential elections in a live interview with Bloomberg on Friday, August 14.
Novogratz commented that everything is trading in a speculative frenzy and compared the market to Bitcoin in 2017. He cited companies like Amazon and Tesla whose prices have skyrocketed to a level he does not believe matches their performance.
Novogratz has called Bitcoin's performance a bubble in the past, even though he stated in 2017 that 20% of his $500 million net worth is held in Bitcoin and Ethereum. He also continues to invest in Bitcoin related projects.
He added that he believes the U.S. stock market will see corrections following the presidential election. The decentralized nature of Bitcoin often leads investors to believe the currency is isolated from political happenings so it is unlikely the election will interfere with Bitcoin's recent price action.
By Emily Mason
Tags: Bitcoin,BTC,Galaxy Investment Partners
Link: Billionaire Crypto Investor Calls Bitcoin Performance A Bubble, Despite Holding 20% Of Net Worth In Bitcoin And Ethereum [Copy]
