“Bitcoin should be placed in comparison with Gold not with Alt coins”- Mike Novogratz
Published
1 year agoon
Chief Executive Officer of Galaxy Digital and Hedge Fund expert, Mike Novogratz has published his opinions about Bitcoin being superior to Gold and other cryptocurrencies via his twitter handle (@novogratz).
Novogratz in his recent tweet believes that comparing other cryptocurrencies with Bitcoin is outrightly missing the point. Instead, he believes the only asset fit to be placed in comparison with the digital asset is Gold or other store of value.
As regards DeFi, he is of the opinion that it should be compared with FinTech or Bank stocks; while stablecoins on the other hand should be likened to payment companies. Using the term “Crypto Nation”, he implied the three are different and serve various purposes in the cryptocurrency industry, therefore, they shouldn’t be mixed up.
https://twitter.com/novogratz/status/1350822425441624064?s=20
Peter Schiff calls the comparison between the two assets Bitcoin marketing Fraud
Peter Schiff replied to Novogratz’s claim by calling the comparison between Gold and Bitcoin as a “Bitcoin marketing Fraud”. He stated that Bitcoin’s price may rise but its value will never rise because it has no store of value.
https://twitter.com/PeterSchiff/status/1351187187262435331?s=20
Is Bitcoin really not a Store of value?
Jim Crammer, the host of the popular “Mad Money” show on CNBC made a bullish comment on bitcoin last year November, 2020 in a report by CryptoTVPlus. In the report, he said he had just discovered that Bitcoin is a good asset to hedge against inflation and an asset he would make sure his kids know their way around. In the report he also described Bitcoin as being “a great alternative to Gold”. See more
George Ball, last year August, 2020 who had been a strong antagonist against Bitcoin endorsed it as a safe asset for investors as reported by CryptoTVPlus. See more
Beyond reasonable doubts, Bitcoin is a store of value and cannot possibly fall. Institutional investors wouldn’t risk much on an asset that isn’t worth it.
What do you think? Share your comments below
You may like
Latest Episode on Inside Blockchain
Crypto News Update
Crypto Street
Trending
Crypto Bootcamp Community Celebrates Bitcoin Pizza Day Across Africa
The advent of Bitcoin has paved the way for seamless cross-border payments. The demand for third-party intervention in financial transactions...
Explore, Build Assets, Fight and Earn in the Supernova Space
A new economy was opened in 2017 when blockchain was integrated into gaming to produce the first Web3 game: CryptoKitties....
Owl.Games: The Rise of Crypto Games in the Casino Industry
Crypto gaming used to be new a few years ago but it’s going mainstream now. However, there are some sectors...
BCAT Africa: Reducing Unemployment in Africa
One of the greatest lines spoken in the Spiderverse is “with great power comes great responsibility”, although it can be...
Gamified NFT Platform Trove Announces Launch Partners SideQuest
Trove has announced its new Launch Partnership with SideQuest, a gamified risk-to-earn NFT collection. It was announced on Twitter today. ...
ALL Sections
Recent Posts
- Move To Earn: Keep Fit, Sport, Connect and Earn on the Calo Metaverse
- Top 5 Move-to-earn Applications on Google Playstore
- Top Move-to-Earn Projects Below $100 Million Market Cap
- MetaRuffy: An Intersection of Blockchain, Web3, VR, and AR
- Crypto Bootcamp Community Celebrates Bitcoin Pizza Day Across Africa