The global crisis in the middle of which we are these days that’s triggered by the novel coronavirus is threatening the economies worldwide.
At the moment of writing this article, more than 520k of people in the US have been already diagnosed with COVID-19.
Mike Novogratz is buying Bitcoin
Mike Novogratz said that he’s buying Bitcoin while the governments all over the world are in the middle of a money-printing spree to combat the financial crisis.
In an interview on CNBC’s Squawk Box, he addressed he reasons for which he is still remaining bullish on Bitcoin, despite this huge crisis we’re in.
“I have a big Bitcoin position. I continue to add to it because I think this is an amazing environment for both being long gold and long Bitcoin,” he said.
He continued and highlighted the that that he keeps buying stocks and he also admitted that he bought Starbucks recently.
On the other hand, he said that he is more optimistic about investments in non-stock assets.
Money-printing orgy and its effects
He also mentioned the “money printing orgy” and he said he’s cautious about the effects that this will have in the future.
This is happening all over the world and governments are taking all kinds of precautions and measures to curb the economic impact of coronavirus.
Money doesn’t really grow on trees
“Money is growing on trees right now. I learned when I was a little kid that money really doesn’t grow on trees. We have a global, money-printing orgy going on … at one point that comes home to roost,” says @novogratz on why he is buying hard assets like gold, #btc #bitcoin pic.twitter.com/TvWiQdntmt
— Squawk Box (@SquawkCNBC) April 7, 2020
Novogratz said that “We have a global money-printing orgy going on. And maybe it’s necessary. But at one point, that comes home to roost. So I think hard assets are going to be a big buy. Gold and Bitcoin are my two favorites.”
