Bitcoin Bleeder Mike Novogratz: People Should Bow Down to Satoshi’s Creation in Gratitude
Satoshi Nakamoto is the well-known pseudonym of the creator of Bitcoin, though his true identity remains unknown. His whitepaper on the creation and use of Bitcoin has been one of the most pivotal points in the financial world, leading to an entirely new level of the industry. Many proponents of Bitcoin are thrilled that this development happened over a decade ago but advocate and billionaire Mike Novogratz has pushed the envelope even further, saying that people should bow down and thank him for this contribution.
Novogratz made these remarks (among others) during a video involving both himself and Anthony Pompliano, the founder of Morgan Creek Digital. He believes that every single fund, regardless of whether they are crypto or hedge, should have some amount of Bitcoin in their possession. He added that the digital asset is “sovereign money,” even though it was originally no more than a social experiment with the blockchain technology is introduced. He went as far as to call it an “alternative to gold,” mirroring comments at the MENA summit 2019 when he said that the digital asset will become the digital version of gold.
Bitcoin recently gained some popularity in the headlines as the price passed $4,000, coinciding with the increase in the altcoin prices. Presently, at the time of writing, Bitcoin is hovering at $4,030.43. Novogratz commented that, over the next two decades, he thinks that Bitcoin will be
“in the game.”
Novogratz holds a membership with the Investment Advisory Committee on Financial Markets, which is a group with the Federal Reserve Bank of New York. Speaking on his first interaction with Bitcoin, he said that the committee does not view Bitcoin so much as a currency, considering it to be more of a payment system. Still, regardless of the opinion over cryptocurrency, the Federal Reserve seemed to like the concept of using blockchain technology as a store of value in other applications.