Bitcoin
$ 29,552.00 0.99%
Ethereum
$ 1,955.80 0.32%
Solana
$ 48.08 1.86%
Dogecoin
$ 0.083410 0.14%
ApeCoin
$ 7.40 0.25%
STEPN
$ 1.38 0.97%
Terra
$ 0.000193 20.32%

Mike Novogratz predicts Bitcoin future; Web 3.0 will rule

mike novogratz preditc about bitcoin

Michael Novogratz recently said at the summit of ConsenSys’ Ethereal that bitcoin (BTC), one of the major cryptocurrencies, cannot revolutionize the whole world as it is merely value storage.

Michael said this while speaking to the audience at the summit conducted on 11th May 2019.

Michael, further said that Bitcoin has been instituting itself as a store of value and is kind of finalized in attaining its purpose. He compared it to gold, claiming that the gold and bitcoin both are valuable, with their value given to them and determined by society.

However, bitcoin (BTC) is just another example of gold but in the digital world and is just used as a value storage.

He believes Bitcoin isn’t really capable of revolutionizing the whole world. He also mentioned that the web 3.0 plans to revolutionize the functioning of networks and the data would be used as a separate platform for organizing and managing the information.

He furthers that, Web 3.0 is aiming at separating the process of finalizing the data and the actual the data from each other. He remarked that the contenders are competing eagerly with one another for this space.

He also stated that “there is no one building anything on the litecoin blockchain” as compared to Ethereum blockchain, in reference to his recent tweet.

The comparison of cryptocurrency was not only limited to that of gold with bitcoin, but other altcoins were also compared with other elements of the periodic table, giving a hint that they have no choice other than to make their usefulness known to stay in the market.

Aroosa Nadeem

Aroosa Nadeem

A media graduate and passionate media person Aroosa has a knack for digital media journalism and outreach. She has contributed content to different digital media publishers in a variety of areas including technology, health and finance.

Related News

Hot Stories

Terra (LUNA) Rebounded over 1000% in A Day? — Can Investors Expect Any Ray of Hope?
XRP Price Prediction 2022-2030 [After Lawsuit]
Here's why attorney Jeremy Hogan believes Ripple lawsuit is nearing 'endgame'
Bitcoin price analysis: BTC rejects downside at $29,000, another rally incoming?
Solana Price Prediction 2022-2030: Is SOL a Good Investment?

Follow Us

Industry News

The UpLift DAO team joined a closed VIP Discussion with Dr Gavin Wood on what it takes to Build a Better Web3
Mastercard backs crypto despite market decline
Flowcarbon, Adam Neumann's crypto project, raises $70 million in A16z’s funding round
CAR set to launch its crypto hub
FED report finds 46% of American crypto holders earn over $100k