Bitcoin (BTC) has gained a lot of popularity in the ten years since its launch in 2009. Big players like MicroStrategy have recently started investing large amounts in assets, normalizing its viability as an investment for some. Mike Novogratz, CEO of Galaxy Digital, said that Bitcoin is now the obvious financial game.

“Given the risk of Bitcoin, it is easier to bet today than it has ever been,” Novogratz said in a tweet on October 27. “The risk is eliminated daily.”

Cointelegraph contacted Novogratz for details, but received no response at the time of publication. This article will be updated accordingly if responses are received.

“Adjusted for its volatility, Bitcoin delivered the best return in one to two years compared to all other asset classes,” said Marcel Bischmann, a Cointelegraph Markets shareholder, when asked to comment on Novogratz’s tweet. Few investors expect a 60% rise in gold prices. However, it never fell below -8%, so Sharp adjusts the yield based on volatility. ”

Despite MicroStrategy acquiring over $ 400 million from BTC in recent months, it is not the only regular giant to join the party. Square, led by Twitter CEO Jack Dorsey, recently bought $ 50 million and it was announced on Oct.8. After disclosing his stake in BTC in May 2020, billionaire Paul Tudor Jones compared assets to an investment in Apple before it flourished. …

Thanks to its immense commitment, including traditional trading products built on top of it, it is much easier for Bitcoin to achieve a financial position today than it used to be. Although Bitcoin was originally developed as an alternative form of currency, in recent years Bitcoin has gained a lot of popularity as a store with valuable opportunities and investment options.

“I don’t think bitcoin will be used as a transaction currency for the next five years,” Novogratz said in an interview with Bloomberg TV published on October 23. “Bitcoin is being used as a store of value,” he said. added. “People are worried that central banks around the world are devaluing fiat currencies.”

For example, the US government issued a huge amount of its national currency in 2020 at the height of the COVID-19 pandemic; Actions that could ultimately lower the value of the US dollar as a whole.

Source: CoinTelegraph

LEAVE A REPLY