Galaxy Digital CEO said that he expects () to beat its all-time-high price within 18 months. Novogratz made his remarks during an interview with mainstream media CNN on May 9.
During the interview, Novogratz also said that he believes that $6,000 is probably a stall point, and the next one will be $10,000. Moreover, he expressed the belief that this time, other “aren’t going to go up nearly as quickly.” He explained:
“The other coins, being the next biggest, …they have to prove use case, right?”
Novogratz pointed out that out of the 118 elements present on the periodic table, only “ has of value just because.” This is in line with what he said in February, when he that occupies a unique place in the landscape, and that it “is going to be digital gold, a place where you have sovereign money.”
Novogratz then stated that there are other elements, such as copper, that we value because we use them. According to Novogratz, just like copper, need to prove their use case in a similar way, “and that means getting people in their community, getting developers, and programmers, and being worthy of something.”
When asked about how concerned the public should be about breaches such as of , he said that “they should be somewhat concerned.” Still, he pointed out that “even the most aggressive exchanges only keep a certain amount of their coins on what’s called a hot ,” and that because of the reserves, no investor has lost his money.
Furthermore, Novogratz said that he expects regulators to take action and added:
“We think all the exchanges should go to a process where they almost self regulate, right? They do what the regulators want beforehand.”
When asked why the prices did not react negatively to the hack, Novogratz expressed the idea that is currently in a bull market, stating “in bull markets, markets can digest bad . We’re in a bull market.”
As Cointelegraph earlier today, when debating economist and notorious critic , Novogratz pointed out ’s recent recovery and concluded:
“The debate is over, won. It is now seen by people all around the world as a legitimate place to [store] their value.”
Published at Thu, 09 May 2019 14:28:02 +0000
