Michael Novogratz said something recently that could send ripples through the cryptocurrency trading market. Novogratz is a billionaire who was a well-known former hedge fund investor, who has now urned his sights on cryptocurrency investments. He thought Bitcoin will do contrary to what most analysts expect and were willing to bet dinner on it. Novogratz said:
I’ll make a bet for dinner anywhere in New York City that bitcoin outperforms both [gold and treasuries] over the next three months.
One may say dinner isn’t a big deal for a billionaire but its more than dinner at stake in this matter. A well-known billionaire investor has basically put his neck on the block as a reliable source for investments. So, in reality, this is a big deal for many investors, especially those who know Novogratz well and may be influenced by his decisions. He added:
Give it a few months … And I like gold.
Mike Dudas, who is the founder and CEO of The Block agreed with Novogratz. He was also expecting Bitcoin to do well. He felt that if billionaire could have such optimistic view of Bitcoin, many more would be will to buy-in.
with more of [his] net worth than would make any sane person comfortable.
This could certainly be a turning point for Bitcoin and its traders and investors. At the end of the day only time will tell as all eyes remain focused on the market.
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