Mike Novogratz, CEO of crypto asset management company Galaxy Digital, is one of the early Bitcoin investors who predicted that Bitcoin would reach high levels in 2019 when Bitcoin was at its worst performing.
Novogratz remains confident in the capabilities of Bitcoin and cryptocurrencies as a viable asset class.
His statement was as follows:
I look at Bitcoin in particular as digital gold.
It has the same overall basics and is also very easy on the adoption curve.
I’m still a big buyer of bitcoin.
As we were told at the beginning of the article, Novogratz is one of the biggest Bitcoin bulls who are helping to shape the perception of the cryptocurrency industry as a whole.
His company, Galaxy Digital, is not only pioneering crypto products and services to serve its customers, but Novogratz itself has also hinted that it holds bitcoin as a store of value.
In the interview, Novogratz noted that the digital currency is still in the early stages of the adoption curve, with more room for further adoption.
The current trends in the cryptocurrency ecosystem markedly distinguish the existing technology and not just the quick wins.
Amid the general downtrend, the price of bitcoin fell to a monthly low of $28,893, before recovering again to $33923.99 according to “CoinMarketCap”.
Despite the risks inherent in the volatility posed by the first cryptocurrency, Novogratz said he remains a big buyer of bitcoin.
Bitcoin Enthusiasts Are Not Dissuaded By The Constant Price Drop:
Just like Mike Novogratz, a number of Bitcoin supporters have remained unmoved amid the growing crackdown on crypto-mining and other cryptocurrency trading activities in China.
Anthony Pompliano tweeted:
Yes, I bought the dip.
For his part, CZ, CEO of Binance, the largest cryptocurrency exchange in the world, said:
Selling amid doubt and uncertainty FUD is a sure way to be poor.
Many view the words and statements of the major players in the cryptocurrency ecosystem as a fulcrum at a time when the market is looking bleak.
Novogratz explained that Bitcoin, decentralized finance, NFT, and other major cryptocurrency innovations are the next major trends shaping the digital economy and the financial world.
It is worth noting that “Galaxy Digital” is one of the companies that deposited the Bitcoin ETF file with the Securities and Exchange Commission, and is still waiting for a response.