Bitcoin (BTC) Is The Ultimate Crypto Leader, Says Mike Novogratz
Bitcoin (BTC) made all crypto enthusiasts happy yesterday when it finally managed to cross the $6,000 level.
At the moment, BTC is priced at $6,274.16, and it’s trading in the green on CoinMarketCap.
Bitcoin is reportedly the ultimate store of value
Galaxy Digital CEO Mike Novogratz had a recent interview with Bloomberg during which he said that Bitcoin has won the battle for the ultimate store of value.
“Yes. It’s won that bucket. It’s won the bucket of store of value. Not as a currency, but as a store of value. It’s won. And all the other cryptos, just like the other 113 elements on the periodic table, have to prove use case, have to be valuable because people use them.”
BTC is digital gold
Novogratz believes that the whole debate on whether Bitcoin will be widely used to make purchases is irrelevant because BTC is digital gold.
“You can’t buy anything with gold. What have you bought with gold in your whole life? Nothing. Maybe you get a gold coin, and you save it. Bitcoin is a store of value. The Incas and the Aztecs thought gold came from God. That’s why it was a store of value. There’s something magic that happened,” he says.
After a visit to Silicon Valley, Novogratz said that he’s more bullish on BTC than he’s ever been.
The future of crypto space
He’s also extremely optimistic regarding the future of the crypto space.
The man said that he’s now seeing people starting to believe in crypto and this is a sort of a self-fulfilling prophecy.
He notes that the crypto space is continuously attracting more smart kids of their generation, but also entrepreneurs who are his age and young technical talents.
This may indeed be the year of crypto and BTC.
2019 is said to be a much better year for crypto compared to the bearish 2018, and all signs are pointing that the digital assets are heading in the right direction.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.