THELOGICALINDIAN - Billionaire Michael Novogratz said that the contempo backlash in stocks ability advance to addition abatement anon Instead he is assured in Bitcoin and gold
Bitcoin Will Be Among Ideal Safe-Havens
Novogratz, CEO of crypto merchant coffer Galaxy Digital, told CNBC’s “Squawk on the Street” that investors shouldn’t be addled by the contempo fasten in banal prices. Instead, affairs non-stock assets, including cryptocurrency and gold, would be the appropriate approach.
The US banal indexes accept been bullish amidst alert optimism about the coronavirus pandemic. However, Novogratz doesn’t buy it.
He fatigued that he was still bullish on Bitcoin, alike admitting the better cryptocurrency accomplished one of its affliction crashes aftermost month. The amount has recovered a big block of its losses back again however, and is currently trading aloft $7,300. Novogratz added:
He appropriate that the authorization accumulation is growing on steroids, as the Fed is pumping trillions to save the US economy.
Should You Listen to Novogratz?
Galaxy Digital bang-up has consistently been bullish on Bitcoin, so there is annihilation abnormal about his latest comments. The absorbing affair about Novogratz is that he has big access on Wall Street, and his articulation ability reflect the affection of some of his advisers from the banking elite.
For example, the billionaire is a affiliate of Kappa Beta Phi, a actual backstairs Wall Street alignment that has been about for about a century. The society, whose recruits are dressed in annoyance and ridiculed by veterans, includes top admiral and admiral like above New York City ambassador Michael Bloomberg and BlackRock CEO Laurence Fink. Interestingly, BlackRock was assassin by the Fed to buy accumulated bonds and added assets on account of the US Treasury.
Do you anticipate Bitcoin will amend the ATH by the end of this year? Share your thoughts in the comments section!
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