Billionaire Mike Novogratz Says Cryptos Are A Lot Like Peloton, Comments on BTC Up 180% in 2019

Mike Novogratz, the owner of Galaxy Digital, has recently talked about the crypto market. According to him, the institutions will really enter the market when the prices start to rise again. He believes this because he is already seeing how they are slowly entering the market.

The trader affirmed that mainstream adoption is slower than many people tend to think, so they need to be slow but affirmed that it was a certainty that they would eventually enter the market.

Novogratz also affirmed that it could take five to six years before the crypto market would really start to affect the lives of everybody. The bull run of 2017 made people see the market in an unrealistic way and make them believe that the revolution was just around the corner when a change takes time.

He also compared cryptocurrencies to Peloton Interactive. This company is promoting its Initial Public Offering (IPO) this week, but it prepared for eight years before it reached this point. Novogratz was one of the seed investors and he compared both investments to show how it may take time until something is ready to finally achieve its potential.

Despite the “slow” adoption, Bitcoin is still around 200% up this year. Not a bad result. There are several factors that are still in the way of mainstream adoption, for instance, regulation. In any case, Bitcoin is generally faring better and we’ll probably see better results soon if are to believe Novogratz.

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Nirmala Velupillai
Nirmala Velupillai
Nirmala is a blogger who has been fascinated by the world of technology and its contributions to societal development. While a novice, her eager to learn about the crypto world has led her to write a number of pieces on its positive and negative aspects. On her spare time, she indulges in understanding and building statistical models and enhancing her painting skills.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

LEAVE A REPLY

Please enter your comment!
Please enter your name here

3,466FansLike
2,795FollowersFollow
4,236FollowersFollow

Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

Bitfinex Offers $400M Reward For Info on 120k BTC Stolen in 2016; Hackers Can Collect Too

On August 2, 2016, Bitfinex experienced one of the biggest crypto heists of all time, as hackers exploited the system, running off with approximately...

Crypto Trading Platform, 2gether, Unable To Refund $1.4M Hack; Offers Its Native Tokens

Spanish cryptocurrency trading app, 2gether announced on Sunday the platform faced a hack on July 31 on its investment coffers losing €1.183 million ($1.4...

Venture Fund to Invest Majority of $100 Million Raised Fund in DeFi Protocols

San Francisco-based venture fund Electric Capital has raised $100 million from university endowments and other non-profits and it will be using this to invest...

Filecoin to Begins its Incentivized Testnet This Week Ahead of Project Launch Next Month

Crypto project Filecoin which proposes to create a peer-to-peer storage system, will begin its incentivized testnet this week. This testnet will allow users to...

Ethereum 2.0 Final Testnet, Medalla, Rolls Out; Is A 2020 Launch Now In Sight?

The Ethereum 2.0 Phase 0 Medalla public testnet finally went live on August 4, 2020 at around 1AM GMT giving hope of a possible...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today