Mike Novogratz, who is the co-founder and chief executive officer of Galaxy Investment Partners LLC recently sat down for an interview with Bloomberg. In the interview, he discussed a range of topics around cryptocurrencies.
Novogratz says ‘Bitcoin has won the war of cryptocurrencies.’ He points out how people compare Bitcoin with Gold – this led him to point that Bitcoin is a store of value wherein other coins still on their way to find use-cases. While seeing Bitcoin trading at over $6000 against the dollar, he says;
“I feel better about Bitcoin today than I have at any time in my career,”
Earlier, while talking to Liz Claman of Fox Business, he discussed his opinion on the next move of Bitcoin and slams Buffett’s recent’ comments. Buffet had called it a seashell or something and calls it a Gambling device.
To which he said:
“I think its old people that don’t like Bitcoin. I think its old people that don’t like Bitcoin. Its gonna be significantly higher in six months or a year. It will get back to $10k first and then roll back to $20k and it would not surprise me 18 months from now to way back to $2000.”
Mike had earlier criticized Binance CEO Changpeng Zhao (CZ) for mishandling the Binance hack. The 7,074 Bitcoin Core (BTC) hack lost Binance roughly 2% of its BTC holdings and made for a $40 million loss. As a reaction to it, the exchange announced some “unplanned maintenance,” and CZ suggested a rollback on the BTC blockchain.
Even though he commended the exchange for transparency he said that Binance controls an incredible amount of wealth in the crypto world, and they’ve now proven themselves vulnerable to hack’s just like the least secure of exchanges.