Cryptocurrency

Mike Novogratz supports to have more gold than Bitcoin

The most experienced investors in the financial market know that they can’t put all your capital in a single type of asset, even if it is one that is trusted as much as Bitcoin. For this reason, it has always been a debate as to what percentage should be invested in cryptocurrencies. And in this regard, the legendary investor Mike Novogratz, admits that it has more gold than Bitcoin for the moment. Due to the high volatility of the price of the criptoactivo.

Bitcoin as a safe investment

At the time of investing in the crypto market, the main option is always Bitcoin. Then, the first criptomoneda of history has several advantages that attract investors from all over the world. Including a wide market, and therefore with a great liquidity. Complementary products such as futures contracts available on various platforms. As well as, the much-mentioned quality of asset book value.

In this way, there are many market analysts who, like Mike Novogratz, recommended the acquisition of Bitcoin as a means to protect the value of capital in times of political uncertainty, economic or social. Therefore, when comparing the value of the currency with the Fiat money during times of crisis. It can be noted that the same is maintained or even increases in time.

That makes are many the voices that promote the Bitcoin as the “gold of the XXI century”. Proposing that the investment in BTC should start to replace the investment in gold as the primary safe haven for value. A council that has found echo in big investors such as Mike Novogratz, who without leaving the gold, they begin to acquire larger amounts of Bitcoin.

Mike Novogratz has more gold than BTC

As well, the CEO of Galaxy Digital, Mike Novogratz, admitted yesterday in a conversation with CNBC that, though the Bitcoin has the potential to generate a return greater than the gold, does not recommend that you have a greater amount of the criptomoneda that of the precious metal. Arguing that the volatility of the same, would make a shelter of value less secure than the gold.

“My feeling is that Bitcoin outperforms gold, but I would say to the people who have much less than gold. Only for the volatility“. Adding on gold that “The configuration macro is so perfect right now for something like gold. The central banks are still printing more money, as well gold is going to reach up to the old maximum of 1,950 dollars and will continue to move forward. This has just begun.“

Mike Novogratz admits that it has more gold than Bitcoin due to the high volatility of BTC. Source: CoinDesk

As on other occasions, Novogratz has expressed its confidence in the future of Bitcoin, as well as in its quality as a reserve asset of value. The time that has shown to be critical in front of the high volatility in the price of the virtual currency. Only reason at the moment, has decided to maintain a greater portion of their capital in gold in Bitcoin. While the market of the criptomoneda mature enough to achieve stability in your quote.

Did you like the content? Share it

About the author

Belinda Carey

Belinda Carey

A finance girl by education, Belinda has been drawn to cryptocurrencies ever since Bitcoin first emerged in the 2009. Nearly a decade later, Belinda is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies.

Do NOT follow this link or you will be banned from the site!