Mike Novogratz told why he considers Bitcoin “digital gold”

During a speech at a conference in Miami, Galaxy Digital CEO Mike Novogratz again pointed out the advantages of bitcoin over fiat currencies.

He emphasized that only one BTC will stand the test of time, and all other coins will go down in history. Now Bitcoin is used primarily as a speculative tool, but it has already proved to everyone that it can rightfully be called “digital gold.”

As evidence of his position, he called an increase in investment in a coin after the escalation of the US-Iranian confrontation over the killing of General Soleimani in Baghdad.

The result of a spiral of tension in the Middle East region was not an increase in investments in fiat currency, for example, the US dollar, but the purchase of bitcoin and gold. Another growth factor for the first cryptocurrency was the spreading coronavirus epidemic in China.

People massively buy this particular digital asset, as they are sure that using BTC you can not only save, but also increase your capital in conditions of instability.

Mike Novogratz has repeatedly spoken about the inevitability of expanding the Bitcoin ecosystem. He also announced the collapse of most altcoins, which, in his opinion, are not able to compete with the first cryptocurrency.