Mike Novogratz, who is optimistic about Bitcoin, in addition to the words "Digital gold" he also said that the role of Bitcoin still acts like gold in the periodic table.
Mr Mike said this at the Milena Institute MENA Summit summit held in Abu Dhabi. He talks about some reasons that he believes that Crypto Winter is finally ending, including the arrival of other institutions.
Mr. Novogratz: Bitcoin is still a digital gold.
Comparing the periodic table may cause many people to ignore. Mr. Novogratz explained why Bitcoin is still digital gold even after the market has fallen by 80 percent.
"In the periodic table there are 118 elements, and only one gold comes in. Because it can store the value. Bitcoin is still digital gold. Which is where the money is collected that is very valuable Not a dollar or a Chinese currency. "
Mr Novogratz also mentioned those who mentioned Bitcoin as being too expensive and too slow to use in transactions:
"We collected gold with guns and deep vaults. There is a cost to collect gold because gold can be a value store. So the idea that it should be free is wrong. What makes Bitcoin unique is safety. "
Financial institution
Mr. Novogratz sees that Crypto Winter will end because financial institutions come into this industry more.
Mr Novogratz said that the world of Kripo was born. "Many wonderful soap bubbles around the end of 2017 and early 2018"
He called for complaints of institutions that did not enter the Kripo industry because they considered it a waste industry.
He said that the Kripo industry began to have funds flowing into both mutual funds and mixed funds. Mr. Novogratz is excited about Yale University, starting with a crypto fund. Or even Ivy League, the second largest school, also invests in Crypto.
The acquisition of Fidelity, which will launch a platform for trading cribs and Bakkt that is open for Bitcoin Futures. All of this is just the beginning. And we will see more in 2019. He predicted
Bitcoin price
At this time, Bitcoin prices can be both up and down. That is a vague guess. Because he had previously predicted that the Bitcoin price would reach $ 40,000, CNN said it was the worst guess in 2018.
"If you look back in every market You will always find bubbles. I think the price is in the range of 3,400 to 3,600 dollars. Will Bitcoin prices go down again? Of course, it will go down again. It can go either way. I think the price adjustment in the next time it may be higher. "
He concluded:
"The next time we may see Bitcoin prices separate from many other Altcoins."
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