The billionaire Investor and hedge Fund Manager Michael Novogratz is not silent when it comes to his fondness for Bitcoin. The legendary Investor evangelized the digital asset is often, if he drives on CNBC and other news channels once again on the loose.
Although it is not a secret is that he is in BTC to be optimistic, he says now that he considers the cryptocurrency a “Macro-weapon,” the investors prior to the economic damage can protect, are invariably the print due to the immense money and the accumulation of debt is causing, which are currently operated by the United States and other countries.
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This billionaire buy, Bitcoin and Gold as “Hard Assets” are becoming more and more attractive
In an Interview with Bloomberg TV Novogratz recently stated that he is currently both Bitcoin as well as Gold on rising prices, since the attractiveness of these “Hard Assets”, through the persistent Attempts by the government to stimulate the economy, is strengthened. He explained his reasoning:
“I’m Long Gold, I’m Long Bitcoin, we are witnessing a monetization of the debt, such as we have never seen in our life… in the long term, the for me, the Hard Assets look better”.
The monetization of the debt, about which he speaks, refers to the unprecedented measures taken by Central banks from around the world to prevent the complete collapse of the economies.
In the case of the United States, these measures of liquidity consisted of spraying in the Form of Repo transactions, cash payments to citizens, bailouts for big companies and industries, and many other loose monetary policies.
Smart money is loading up on BTC, says Novogratz
In the Interview, the billionaire also stated that he has seen how Bitcoin was a “Macro-weapon”, with Hedge funds, large investors and other forms of “smart money” loaded on the digital asset, in the hope, against the impact of the forthcoming economic crisis hedge.
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“In the last year it has become a Macro-weapon, and an investment decision. Hedge funds and high net worth individuals, who had purchased it and never buy Bitcoin now.
In line with his assertions that he holds for the same reasons, as these investors Long positions in BTC, and Gold, said Novogratz, that he shortet for the first Time in a long time shares and loans.
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