In a recent interview with CNBC, Galaxy Digital Holdings CEO Mike Novogratz said:
“If there ever was a time – lowering the value of fiat currencies, monetizing billions of dollars in debt – this is the time for Bitcoin.”
Novogratz has predicted that Bitcoin will become a star this year, fulfilling the purpose for which it was created. The BTC was designed after the 2008 financial crisis to be an alternative when central banks are in crisis.
Opportunity to buy Bitcoin
In recent weeks, central banks around the world have announced trillions of dollars in financial incentives. They are trying to combat the impact of coronavirus on the savings.
“Millennials and Gen Z get to inherit all these debts by being written by the +75 crowd responsible today. It really doesn’t seem fair to me. Boomers will remain in history as the generation that went bankrupt. Maybe that’s why young people like $ BTC, ”
of declared Novogratz.
The price of Bitcoin increased by 74% from the minimum value this year, recorded on March 12. However, it is still down 36% from the maximum of about $ 10,500.
Novogratz is of the opinion that this should be considered as a opportunity to buy of Bitcoin.
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However, in the next 1-2 months, analyst Alex Kruger is opinion that Bitcoin volatility will continue.
“It could be very likely that traditional investors will seek to regain their liquidity by selling the profit from crypto assets, as the shares are performing poorly worldwide,”
Christel Quek, co-founder of Bolt Global, is of the opinion.
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