The founder of Galaxy Digital said it was time to “stop the battle” between bitcoin and gold, as both assets can be used as a store of value.
Michael Novogratz expressed his point of view in the comments to the tweet of cryptocurrency skeptic Peter Schiff.
Schiff resented being called a fool by popular trader Dave Portnoy for supporting gold investments. There is an opinion, the trader wrote, that gold has no value and should cost no more than copper jewelry. Portnoy advised Schiff to invest in bitcoin, despite the high risks, rather than invest in dividend-paying stocks. Schiff believes that it is precisely these actions that will turn out to be reckless.
As a supporter of bitcoin, Novogratz wrote that both bitcoin and gold can be used as a store of value to hedge against the depreciation of the national currency. This eliminates the need to argue over which is better: gold or cryptocurrencies.
“There is no need to take an either-or position. The gold charts look good. For a while, gold was also losing ground, and now bitcoin and other crypto assets are at the stage of acceptance, ”Novogratz said.
Recently, the founder of Galaxy Digital invited Schiff to make a $1 million bet on what the price of bitcoin would be in a year. This did not arouse Schiff’s enthusiasm, and Novogratz invited him to bet on 1000 push-ups.
Source: Bits
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