Despite the Crash: Mike Novogratz Still Believes Bitcoin is the Future

The prominent Bitcoin bull Michael Novogratz believes that the primary cryptocurrency is a better version of gold despite the ongoing market crash.

Michael Novogratz – the CEO of Galaxy Digital – shared another positive forecast for the future of the primary digital asset. Despite the ongoing crypto crash, he still looks at bitcoin as the better version of gold.

”I’m Still a Big Buyer of Bitcoin”

The billionaire founder and head of Galaxy Digital – Mike Novogratz – disregarded the current collapse of the crypto market. Instead, in a recent interview with Bloomberg, he opined that bitcoin and the alternative coins represent the future of the financial world.

Novogratz opposed the central banks and treasury departments, which printed colossal amounts of money during the pandemic. To him, people will need hard assets such as real estate, gold, and ”certainly crypto” to prevent themselves from the harsh consequences of mass printing.

He compared Bitcoin to gold and even opined that the primary cryptocurrency is a better version of the precious metal. He reminded that during its early years, people were scared of the digital asset, but recently hedge funds and even insurance companies started embracing it:

”I look at Bitcoin, in particular, as digital gold, and Bitcoin is a better version. You can see not only millennials moving towards crypto but the whole world.”

Novogratz backed up not only the primary digital asset but also some altcoins. He sees them as innovation, which would make the future financial market ”more transparent and more fair.”

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Mike Novogratz. Source: CNBC
Mike Novogratz. Source: CNBC

A BTC Bull No Matter What

Mike Novogratz has shared his positive prediction on bitcoin multiple times. At the end of 2020, he advised investors to allocate 2-3% of their net worth in the virtual asset to gain profits in the long term:

”Bitcoin is for everyone. Everyone should put 2% to 3% of their net worth in bitcoin and look at it in five years, and it’s going to be a whole lot more.”

It is worth noting that last year Novogratz opined that Bitcoin’s dollar value would eventually reach $100,000. He also explained the reasons why the market attracts him so much:

”I got into crypto and BTC because I saw it as a revolution. It is a systems change. It’s the same reason I spend time advocating for social justice. The goals are the same.”

Interestingly, the billionaire plans to donate most of his profits to charity when this price is reached.

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