Michael Novogratz: Bitcoin is not believed by those who are too old for the digital world

While the price of Bitcoin beats the record for the record, many prominent figures of the financial world are in a hurry to express their opinion on what is happening. 

Some do not comment, since they acknowledge that they do not have enough knowledge in this area, and some openly call the cryptocurrency a fraud and a bubble. In a recent interview for Bloomberg TV, a well-known investor and billionaire Michael Novogratz said that this attitude is more associated with the age of these skeptics than with their wisdom.

Novogratz believes that in case of loss of confidence in the government and the Central Bank, Bitcoin is the ideal solution to the problem.  An example of this can serve Zimbabwe or Venezuela, where it is now possible to observe how the cryptocurrency partially replaced the national currency.

Reporters also asked Novogratz what he thinks about the recent cracking of Tehter wallet and how it could threaten Bitcoin and cryptocurrencies. The investor replied that if we consider the issue in the proper perspective, then $ 30 million is nothing compared to the market capitalization of the entire cryptocurrency system (over $ 260 billion). At the end of the interview, Novogratz was asked about his investments in the ICOs and about how he sees the Bitcoin rate in the near future. The investor told about the site for the decentralization of assets, and replied that, in his opinion, Bitcoin would break through the mark of $ 10,000 by the end of the year. 

Novogratz is known in the financial world primarily for his positions in Goldman Sachs and Fortress Investment Group. In the cryptocurrency community, he became popular after he became one of the first large financiers supporting Bitcoin several years ago. This year, he invested $ 500 million in Bitcoin and Ethereum, as well as in other digital currencies and ICO through his Galaxy Digital Assets Fund.