In a recent interview with Bloomberg, Bitcoin bull Mike Novogratz, CEO of cryptocurrency merchant bank Galaxy Digital gave some key insight into his personal outlook for blockchain-based assets and decentralized applications. 

According to Novogratz, Bitcoin (BTC) will likely become digital gold, subsequently joking that the asset will become a “legal pyramid scheme that will survive and thrive over the long haul. 

Novogratz admitted that he lost money during the 2018 slump due to bad market calls, but that doesn’t dampen his long-term outlook that crypto is a revolution whose time has come.

Novogratz explained that “revolutions don’t happen overnight,” adding that it became apparent that 2017’s monumental rally was a bubble when “people would come up to me wanting to take selfies,” as by then, it was clear that crypto assets were slated to plateau and pullback.

But how exactly this bitcoin revolution is expected to happen is not entirely clear—nor is how long it might take.

While I believe in the underlying technology and believe in the crypto movement, when prices get stupid, I sell. A lot of my friends in crypto just couldn’t let go. They were saying, 'This is going to change the world.'"

However, he is confident that his company, Galaxy Holdings, will break even in the near future. Market speculation has suggested that Bitcoin price has bottomed and that there is nowhere to go but up, and in that sentiment, he said they are “not nervous, we’re just frustrated that our investors have lost money”.


Like it? Share with your friends!

530
1.3k shares, 530 points

What's Your Reaction?

lol lol
133
lol
scary scary
66
scary
omg omg
666
omg
wtf wtf
533
wtf
win win
400
win
fail fail
333
fail
Love Love
266
Love
hate hate
666
hate
confused confused
200
confused

Leave a Reply

avatar
  Subscribe  
Notify of
Choose A Format
Story
Formatted Text with Embeds and Visuals
List
The Classic Internet Listicles
Meme
Upload your own images to make custom memes
Image
Photo or GIF
Video
Youtube, Vimeo or Vine Embeds
Gif
GIF format
Personality quiz
Series of questions that intends to reveal something about the personality
Trivia quiz
Series of questions with right and wrong answers that intends to check knowledge
Poll
Voting to make decisions or determine opinions
Countdown
The Classic Internet Countdowns