Bitcoin

Hedge Fund Titan Says Bitcoin (BTC) Has Already Won Crypto War – Plus Ripple and XRP, Ethereum, Litecoin, Stellar, Tron
From Bitcoin’s reign as the leading digital asset to a new Litecoin upgrade, here’s a look at some of the stories breaking in the world of crypto.

Bitcoin

In a new interview with Bloomberg, former hedge fund manager and Galaxy Digital CEO Mike Novogratz says the battle for the ultimate store of value in cryptocurrency is already over, and Bitcoin has won.

“Yes. It’s won that bucket. It’s won the bucket of store of value. Not as a currency, but as a store of value. It’s won. And all the other cryptos, just like the other 113 elements on the periodic table, have to prove use case, have to be valuable because people use them.”

According to Novogratz, the debate on whether Bitcoin will be widely used to make purchases is irrelevant, because BTC is digital gold.

“You can’t buy anything with gold. What have you bought with gold in your whole life? Nothing. Maybe you get a gold coin and you save it. Bitcoin is a store of value. The Incas and the Aztecs thought gold came from God. That’s why it was a store of value. There’s something magic that happened.

It’s not the code. Me and you could take the code of Bitcoin, it’s transparent, and we could launch it tomorrow and call it Schatzker coin. And it would be worth bupkus. But Bitcoin’s worth $100 billion. It’s the social construct that makes it worth $100 billion. And it’s hard to repeat that. And so, it’s pretty frickin’ cool.”

After a recent visit to Silicon Valley, Novogratz says he’s as bullish on Bitcoin and the future of crypto as ever.

“And now I see people all believing it. And so it’s a self-fulfilling prophecy in lots of ways. And so Bitcoin – I feel better about Bitcoin today than I have at any time in my career. The rest of the space – I was just out in San Francisco. The locus of this space is moving back around San Francisco and Silicon Valley. And I went to five different VC/hedge funds. Each of them had some boy genius between 19 and 23 that had worked at the NSA or graduated high school when they were 12. And I was thinking to myself, this space is pulling in the smartest kids of their generation. It’s pulling in great entrepreneurs who are my age, people like Abigail Johnson and Ross Stevens. And it’s pulling in this young technical talent. And so I think it’s a bullish environment.”