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Galaxy Digital CEO Mike Novogratz Says Bitcoin Is Digital Gold Rather Than A Currency
Summary: Founder and CEO of Galaxy Investment Partners Mike Novogratz reaffirmed his belief that currently Bitcoin serves as digital gold rather than a currency during a recent interview on Bloomberg TV. “I don’t think Bitcoin is going to be used as a transactional currency anytime in the next five years,” he said. As central banks continue ...
Founder and CEO of Galaxy Investment Partners Mike Novogratz reaffirmed his belief that currently Bitcoin serves as digital gold rather than a currency during a recent interview on Bloomberg TV.
“I don’t think Bitcoin is going to be used as a transactional currency anytime in the next five years,” he said.
As central banks continue to print money to buoy economies through the COVID-19 pandemic the argument for using Bitcoin as a store of value rather than currency has become increasingly popular. Novogratz added that Bitcoin as a digital gold is going to continue appreciating in value and that more and more people will want to add it to their investment portfolios.
Novogratz also predicted that companies including E*Trade Financial, Visa Inc., Mastercard Inc. and American Express Co. will follow in PayPal's footsteps to offer merchants the option to transact in stablecoins and cryptocurrencies.
By Emily Mason
Tags: Bitcoin,BTC,Galaxy Investment Partners,Mike Novogratz
Link: Galaxy Digital CEO Mike Novogratz Says Bitcoin Is Digital Gold Rather Than A Currency [Copy]
