Mike Novogratz, CEO of the financial services company Galaxy Digital, He recently expressed his usual bullish sentiments about Bitcoin on CNBC’s morning show Squawk Box. During the program interviewer segment asked Novogratz about Bitcoin (BTC) in relation to gold. He noted that the big players appear to be buying cryptocurrencies after they sell their gold investments and that gold has seen a large outflow recently.
“I think it’s significant, but it’s not the real story.”, said Novogratz on Tuesday morning. “The real story is the introduction of Bitcoin, the introduction of cryptocurrencies to a wide variety of accounts.” pointed out and went on to mention those Recent interest from Guggenheim in a $ 500 million investment in Grayscale’s GBTC.
“It’s just a litany of institutional investors changing their minds or realizing that now is the time for Bitcoin to have enough liquidity to be a part of it.” Novogratz said, referring to the major players who invested in Bitcoin in 2020, including billionaire Paul Tudor Jones and Microstrategy, a business intelligence company.
“If Bitcoin were easy to buy, the price would have been much higher.” Declared Novogratz. “The Grayscale Trust was a very interesting way for people to get involved, much like an ETF.”
In contrast, the gold enthusiast and well-known Bitcoin skeptic Peter Schiff, continue against the digital asset. “CNBC’s excessive coverage of #Bitcoin marks a new low in the ethics of financial journalism,” tweeted Ship on Tuesday. “Its constant promotion has legitimized the asset in the eyes of its audiences, many of whom buy and then hold their bags when the whales dispose of what helped @CNBC pump.”
Schiff’s tweet mentions CNBC coverage in general. While he didn’t mention the segment directly, the timing of his comment appears to be in line with the morning’s Squawk Box segment. shortly after Novogratz joined the program.
“Bitcoin Pumps assured HODLers that once #Bitcoin hit a new high, investors would be quick to buy” tweeted Ship on Tuesday.
“That was part of the pump to keep the little ones on board while the big ones dumped the asset. Bitcoin set a new record, but instead of the new money, the old money is running out. “
Bitcoin surpassed its all-time high of $ 19,892 early Tuesday morning. short about reach USD 19,915 on Coinbase from losing more than $ 1,500.