THELOGICALINDIAN - Galaxy Digital CEO Mike Novogratz says that admitting massive selloffs beyond a ample ambit of cryptocurrencies the adventure of crypto has not afflicted and the crypto anarchy has happened While examination the accepted bazaar as a defalcation accident and a setback Novogratz still believes in the longterm acceptance of bitcoin
Crypto Revolution Amid ‘Liquidation Event’
Mike Novogratz aggregate his appearance on the crypto bazaar in an account with CNBC this week. He calls the bitcoin attempt a “liquidation event” that feels like capitulation.
The Galaxy Digital CEO has continued been pro-bitcoin. In his view, accretion will booty some time. “Humpty Dumpty never gets put aback calm in two canicule … back he cracks,” he opined. “It’s activity to booty a while. The bazaar will consolidate. It will acquisition a basal somewhere. I’m acquisitive it’s abutting to here.” However, Novogratz emphasized:
Commenting on a contempo JPMorgan analysis claiming that investors are affective abroad from bitcoin into gold, Novogratz remained optimistic on the abiding acceptance of bitcoin.
“I see a movement,” he added shared, abacus that he was out with two coffer CEOs aftermost ages and both were absorbed with decentralized accounts (Defi). “I aloof see an adamant move from banking institutions and tech companies into the crypto space,” he affirmed.
Novogratz acicular to several factors abaft the falling amount of bitcoin in contempo weeks, including comments from Tesla CEO Elon Musk apropos bitcoin mining’s activity acceptance afterwards Tesla absitively to stop accepting bitcoin for payments.
The Galaxy Digital controlling concluded:
Do you accede with Mike Novogratz about bitcoin and the crypto revolution? Let us apperceive in the comments area below.
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