Mike Novogratz, the CEO of Galaxy Digital recently revealed that he has around half of his net worth tied up in cryptocurrencies such as Bitcoin (BTC). The Galaxy Digital CEO has highlighted that the cryptocurrency is becoming digital gold.
With notable companies including MicroStrategy, Square and PayPal adopting cryptocurrencies, Novogratz added that the adoption of Bitcoin has been on the rise. Due to investors looking at the macro-backdrop of 17 trillion dollars of negative debt of budget deficits that continue to grow, Novogratz commented that Bitcoin, “in some ways, is the perfect instrument.”
Bitcoin has a finite supply of 21 million coins and Novogratz that there is hardly any inflation with the cryptocurrency. He added that the world’s largest cryptocurrency “works for this time and place perfectly.”
The digitization of everything—most likely on Ethereum
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