There are now over two hundred million people around the world that participate in the bitcoin ecosystem, and it continues to grow, says Galaxy Digital Holdings CEO Mike Novogratz
A growing number of fund managers and institutional investors now prefer bitcoin over gold. They see the cryptocurrency as a better store of value and a better inflation hedge.
I think it’s probably going to be ten times better than gold over a long period of time, said the founder of one asset management firm.
During his company’s third quarter earnings call last week, Galaxy Digital Holdings CEO Mike Novogratz talked about bitcoin being a better store of value than gold. While stating: I still think gold was probably an okay asset to own in this environment, he emphasized that it’s just gotten crushed by bitcoin.
Novogratz added: Bitcoin is just a better version of a store value and it’s being accepted at an accelerating pace. There are now over two hundred million people around the world that participate in the bitcoin ecosystem, and it continues to grow.
Skybridge Capital founder Anthony Scaramucci also expects bitcoin to outperform gold. He said last week that bitcoin will eventually eclipse gold. He has been saying that it is still very, very early for bitcoin, predicting that the price of the cryptocurrency will easily reach $500K. He urges investors to own some BTC now.
In a discussion about market capitalization, Scaramucci opined: I think it’s probably going to be ten times better than gold over a long period of time. I’m not going to be surprised if bitcoin goes up at an exponential rate and gold goes up at a linear one.
Another famed fund manager who recently admitted that he prefers bitcoin over gold is Paul Tudor Jones. He said last month that he prefers bitcoin as a hedge against inflation in the current economic environment, stating: Clearly, there’s a place for crypto. Clearly, it’s winning the race against gold at the moment. It would be my preferred one over gold at the moment.
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