$ 1,195.48 1.27%
$ 40.57 0.77%
$ 0.066177 1.70%
$ 4.35 3.42%
$ 21,150.00 0.47%
$ 234.26 2.39%

Galaxy Digital CEO Novogratz supports having less Bitcoin investment than Gold


Again, one of the many prominent supporters of the largest cryptocurrency, Mike Novogratz, recently restated his preference for Bitcoin investment over Gold. This time, Novogratz went on to recommend having a smaller percentage of the cryptocurrency in one’s portfolio than the yellow metal.

Have less Bitcoin than Gold

The CEO of Galaxy Digital, an investment management company, recommended setting out a lesser percentage of one’s portfolio for Bitcoin investment than for Gold. Novogratz stated this during his most recent appearance at CNBC’s Fast Money. He noted precisely: 

My sense is that Bitcoin way outperforms it, but I would tell people to have way less Bitcoin than gold just because of the volatility.

In line with his strong support for Bitcoin investment, Novogratz opined that there is more height for Bitcoin to reach, given that the cryptocurrency is still on its infant stage to adoption. Hence, it will continue to outperform Gold. Besides, people still find it challenging to purchase the cryptocurrency. 

Bitcoin investment

The Bitcoin supporter explained that some people still find it difficult to buy Bitcoin, which is somewhat affecting the price growth of cryptocurrency. However, as more on-ramps launch into the market, many investors will gain easy access to begin their Bitcoin investments. 

There are more and more people working on making it easier to buy. Funds being set up, custody being done. At one point, we will get an ETF.

Bitcoin and Gold are considered one of the highly discussed assets, with Novogratz now showing interest in both. On the year-to-date chart, the cryptocurrency outperformed Gold, on a percentage of 32.5. Gold has reportedly gained 19.7 percent so far.

Ibiam Wayas

Ibiam Wayas

Ibiam is an optimistic crypto journalist. Five years from now, he sees himself establishing a unique crypto media outlet that will breach the gap between the crypto world and the general public. He loves to associate with like-minded individuals and collaborate with them on similar projects. He spends much of his time honing his writing and critical thinking skills.

Related News

Hot Stories

Crypto News Alert – A New Meme Coin That Will Process 50,000 Transactions Per Second
Cryptocurrency Investments To Make in a Bearish Market - Shiba Inu (SHIB), Dogecoin (DOGE), and RoboApe (RBA)
Monero Price Prediction 2022-2031: Is XMR Price Going Higher?
Shiba Inu price analysis: SHIB expected to stay bullish for the next 24 hours
ISO 20022 compliant crypto-list

Follow Us

Industry News

Margin calls and bot liquidations add chaos to crypto as its market cap hits $964b
Bitpanda lays off workers amid the market decline
Coinbase to launch Nano BTC features aimed at retail traders on June 27
Namibian University will offer master's degree in blockchain technology soon
Uphold announces restriction of Venezuelan users