Billionaire Mike Novogratz: Bitcoin’s Moment is Right Now
Greetings, all! I hope this evening finds you all well. Bitcoin is looking good at $7,100+ this evening. Speaking of Bitcoin, Mike Novogratz feels Bitcoin’s time is now. Right now.
The cryptocurrency community believes that Bitcoin was made for the type of economic upheaval that has gripped the world since COVID-19. Billionaire trader Mike Novogratz tends to agree, saying in an interview with CNBC that Bitcoin is facing a key moment, as monetary policymakers continue to dole out trillions in stimulus.
The Galaxy Digital founder hearkens back to the saying that money doesn’t grow on trees, pointing out that there will only ever be 21 million bitcoins mined.
Novogratz, whose investment strategies straddle both a macro portfolio and cryptocurrencies, is finding anecdotal evidence that Bitcoin adoption is at hand.
“As we have more and more fiscal stimulus being monetized by the central bank, more and more people I talk to want to find something with scarcity.”