One of the prominent Bitcoin bulls, Michael Novogratz, took to his Twitter handle to share why he got into the digital currency industry. For Novogratz, cryptocurrencies, especially Bitcoin (BTC) is more than just a technology for digital payments. He explained that the cryptocurrency is a revolution itself. Previously, Novogratz referred to Bitcoin as an option to avoid ridiculous government policies.
Michael Novogratz sees Bitcoin as a revolutionary tool
Novogratz precisely noted in a tweet earlier today that he views Bitcoin as a revolutionary tool that can viably cause systemic changes. This is the more reason why he joined the Bitcoin and cryptocurrency industry. He acknowledged that the cryptocurrency is in accordance with his movement to advocate social justice.
I got into crypto and $btc because I saw it as a revolution. It is systems change. It’s the same reason I spend time advocating for social justice. The goals are the same.— Mike Novogratz (@novogratz) October 1, 2020
Michael Novogratz is the founder of Digital Galaxy, a digital assets merchant bank. Also, the Bitcoin advocate is a notable hedge fund manager. In response to the tweet, one of the commenters questioned his statement, asking if he (Novogratz) will donate his Bitcoins profits to the charity if the cryptocurrency manages to reach the $100,000 price mark.
Novogratz replied that he would donate ‘most of it,’ to the charity. On that statement, it is worth noting that the Digital Galaxy CEO holds a sizable amount of cryptocurrencies in his portfolio.
As of 2017, Michael Novogratz reportedly disclosed that about 20 percent of his net worth was invested in Bitcoin and Ethereum. Between 2016 and 2017, he reportedly made $260 million in profits from digital currency alone.
Bitcoin: another thing governments can control
During the massive US dollar printing amid the coronavirus pandemic, Michael Novogratz and other prominent industry players had recommended Bitcoin as an escape plan. As Cryptopolitan reported, Novogratz urged investors to consider buying Bitcoin to hedge against the effect of inflation, if the US government continued the massive dollar printing.