January 30, 2021
Novogratz Believes Bitcoin Becoming Reliable Investment
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Novogratz Believes Bitcoin Becoming Reliable Investment

If we look back to the 10 years ago, it was pretty risky to investment big money in Bitcoin. But, in the recent years the game has changed. The CEO of Galaxy Digital, Mike Novogratz believes bitcoin becoming reliable investment in the coming years.

 

Bitcoin becoming less-risky as an investment option

Bitcoin price increased significantly since its launch in 2009. As a result, institutional investors such as Microstrategy entered the market and invested in Bitcoin. For this reason, Bitcoin is becoming less-risky investment option compare to the last years.

Recently, Novogratz said on his twitter account that Bitcoin becoming reliable as an investment option over the coming years.

He explained that Bitcoin adjusted by its volatility, presented the best return in one or two years when we compare it with other assets. Novogratz believes, although gold could rally 60%, Bitcoin could gain more than that by the coming years.

Novogratz believes Bitcoin becoming reliable investment; institutional investors are increasing

In the recent months, Microstraegy bought over $400 million worth of Bitcoin. But, it’s not the only institutional investor, who joined the game. Square also bought $50 million of Bitcoin as well and publicized it on Oct. 8.

In addition, Paul Tudor Jones also compared Bitcoin with investment in Apple after disclosing his BTC holdings in May 2020.

Now, it’s much easier for Bitcoin to gain financial exposure, because today it’s more popular than early days. Furthermore, a lot of traditional trading products build around it.

At first, Bitcoin designed and build as an alternative form of currency. But, in the recent years it became popular as investment option and store of value.

In an interview with Bloomberg TV, Novogratz mentioned that Bitcoin will not use as a medium of exchange anymore in the next five years. He added that Bitcoin would use as a store of value. In addition, people are worry about the printing fiat currency, which is happening by central banks.

As an evidence and example, U.S government printed massive amount of U.S dollar in 2020 during the COVID-19 pandemic.

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