Bitcoin Is Crushing Gold As Crypto Adoption Cycle Accelerates, Says Galaxy Digital’s Mike Novogratz

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Bitcoin Is Crushing Gold As Crypto Adoption Cycle Accelerates, Says Galaxy Digital’s Mike Novogratz

Galaxy Digital CEO Mike Novogratz thinks Bitcoin (BTC) is the new asset of choice for people seeking to protect themselves from the effects of inflation.

د ګیلیکسي ډیجیټل Q3 عاید کال کې ، ملیارد وايي that gold’s recent track record has likely been a disappointment to investors of the precious metal.

“I think if you had asked gold bugs two years ago where the price of gold would be, given what’s happened in monetary and fiscal conditions around the world, they would have all answered far higher than here at $1,800.

What’s happened? There’s been a substitution of Bitcoin for gold. We’ve seen it directly [and] indirectly. You see it in the charts. I still think gold was probably an okay asset to own in this environment, but it’s just gotten crushed by Bitcoin... "

نووګرټز دا فکر کوي Bitcoin adoption will only continue to grow while comparing the rise of blockchain technology to how the digital camera transformed photography.

“If you think about any other shift when we went from analog to digital, how many people still use Kodak film? Bitcoin is just a better version of a store of value, and it’s being accepted at an accelerating pace…

There are now over 200 million people around the world that participate in the Bitcoin ecosystem, and it continues to grow.”

The investor concludes that BTC has passed the use-case test of whether people come to view the top crypto as being a store of value.

“A store of value gets its worth from the social construct [where] people agree that it’s valuable. ‘I’m going to hold my hard-earned money, my labor, my savings in this form.’

The debate about ‘Is it a store of value?’ is way over. It was over nine months ago, and so now it’s just adoption. And it doesn’t mean it won’t be volatile… I just think you are going to continue to see it adopted. It’s cheaper to store. It’s easier to move.”

د لیکلو په وخت کې، Bitcoin continues its recent downward trend and is trading at $57,206.

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  خبرتیا: په ډیلي هډل کې څرګند شوي نظرونه د پانګوونې مشورې ندي. پانګه اچوونکي باید مخکې لدې چې د لوړې خطر خطرې پانګوونې رامینځته کړي د دوی مناسب پام وکړي Bitcoin، cryptocurrency یا ډیجیټل شتمنۍ. مهرباني وکړئ مشوره درکړئ چې ستاسو لیږدونې او تجارتونه ستاسو پخپله خطر کې دي ، او کوم زیان چې تاسو یې سرته رسولی شی ستاسو مسؤلیت دی. ډیلي هوډل د کوم کریپټو - اسعارو یا ډیجیټل شتمنیو پیرود یا پلور وړاندیز نه کوي ، او نه هم ډیلي هډل د پانګوونې مشاور دی. مهرباني وکړئ په یاد ولرئ چې ډیلي هډل په وابسته بازارموندنه کې برخه اخلي.

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