- Michael Novogratz has said that now is the perfect time for the leading cryptocurrency.
- Just after the third halving took place, the well-known advocate spoke with CNN where he said that more investors are now considering bitcoin.
Michael Novogratz, one of the biggest names in the crypto space and CEO and founder of Galaxy digital said that now is the perfect time for the leading cryptocurrency. Just after the third halving took place this week, the well-known BTC advocate spoke in a live interview with CNN where he said that more investors are now considering bitcoin for their portfolio.
Ever since the event took place earlier this week, we have been seeing a significant amount of interest in the industry as well as bitcoin itself. Many people predicted that the halving event would take on a life of its own and see the price of BTC spike to heights we have never seen before. Whereas that is yet to still happen, there are still many bullish attitudes going on throughout the space.
As bitcoin rallies up more and more interest, so will its value. With this interest continuously on the rise, who knows what will happen over the next few weeks. According to Novogratz, the interest in question has been driven by the increasing uncertainty in the legacy monetary system due to the recent printing of Fiat money which is likely increasing the inflation rate in the United States. Speaking on the issue, the hedge fund manager said the following:
“Bitcoin is a story and now we have this amazing tail wind because of the macro situation globally. We’ve got this quantitative easing on top of quantitative easing all over the world, not just here in the U.S. today, the FED is going to start buying ETFs…and so you’ve got this exclamation point on the story of…what a monetary system with scarcity looks like vis-a-vis or in contrast to what the FED is doing. And so it really is just this perfect timing for what looks like a macro story that people are thinking i should have 1 or 2 percent in this Bitcoin because the probability or possibility that things go really poorly with classic monetary policy is rising.”
It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!