The world’s largest , (), is not going to change the world as it is just a of value, Galaxy Digital CEO said at on May 11.
Major and former exec Novogratz made his comments during a speech entitled “The Herd Is Still Coming!” at the industry event, which Cointelegraph attended as a media partner.
Starting with , “as it came first,” Novogratz claimed that the coin has “really establishing itself as a of value,” noting that it is “kind of finished” in terms of fulfilling its use case as a of value. Novogratz also compares the asset to gold, arguing that both have value as a social construct.
Since represents a of value or acts as a “digital gold,” it is “not going to change the world,” Novogratz argued. He further stated that instead it is web 3.0 that “has the potential to change the world.” According to Novogratz, web 3.0 envisions a revolution in how networks function and data is treated as it is “a platform to process information. It’s separating data from the processing of it.” The investor noted that public ecosystems such as and “lots of competitors are all vying for this space.”
Comparing various with chemical elements in the periodic table, Mike also considered the role of , hinting that each coin will have “to prove themselves out” in order to provide a certain use case. On this note, Novogratz argued out that “there’s no one building anything on the ,” as opposed to the , referencing a recent of his.
Novogratz elaborated in his talk:
“If you really think is gonna win this of value, everything else needs to be used for something.”
Recently, Novogratz made yet another prediction, that the major will beat its of $20,000 within the next 18 months.
Meanwhile, crypto markets have since Friday, with surging over 10% today to press time, breaking over the $7,000 threshold after around $4,000 for most of 2019.
Published at Sun, 12 May 2019 01:45:59 +0000
