Bitcoin And Crypto Industry Is Still Young, Says Mike Novogratz
The crypto industry has been evolving at a rapid pace, and developments are being made every day.
Despite this, the industry is still in its emerging days, according to experts’ opinions.
Mike Novogratz says the crypto industry is in its early days
CEO of crypto investment bank Galaxy Digital said that the crypto industry is still in its early days.
During a new interview with The Block, Mike Novogratz compared Bitcoin’s timeline to gold, and he also said that he thinks that BTC is emerging as a supplement for the precious metal.
“We are early. We’re still in elementary school as an industry. When you think about it, Bitcoin is ten years old, Ethereum is what? Four years old,” he said.
Novogratz continued and said: “Gold is 3,000 years old and while I fundamentally believe Bitcoin is going to supplement people’s gold allocation, right? If you think of it, Bitcoin is digital gold, more and more people are buying into that.”
Novogratz also pointed out to two influential Bitcoin supporters who are Fidelity CEO Abigail Johnson and Fortress Investment Group CEO Pete Briger.
A surging number of entrepreneurs is expected to enter the industry
He claims that these are a sign that a surging number of entrepreneurs will enter the space.
And regarding, the price of Bitcoin, he thinks it will continue to consolidate around $10,000 in the short term.
“You’re getting a bigger and bigger cheerleading team that has influence. You’re also creating more and more ways, easier ways for people to buy into Bitcoin. I think that train is working. It’s not going to go straight up — we went up from $3,000 to $14,000.”
We recommend that you check out the complete interview on The Block.
Regarding the crypto prices, the market is pretty bloody today, with most of the digital assets trading in the red.