Mike Novogratz describes Bitcoin as a "de-risked" investment

Mike Novogratz describes Bitcoin as a “de-risked” investment

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            [0] => On a risk adjusted basis, $BTC is an easier bet today than it has ever been.   It’s being de-risked daily.
— Mike Novogratz (@novogratz) October 27, 2020

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Updated September 21, 2022 | Published October 28, 2020

2 mins read

As the CEO of Galaxy Digital, Mike Novogratz has a keen interest in Bitcoin, describing it as a relatively safe investment.

In fact, BTC is in the process of being “de-risked” almost daily.

Novogratz wasn't too specific about what he meant in his tweet, but his confidence about the potential of BTC is eye catching.

Of course, Novogratz is right about Bitcoin being a financial asset.

A growing number of mainstream institutions have fallen behind the Bitcoin wave and are riding its crest.

On a risk adjusted basis, $BTC is an easier bet today than it has ever been. It’s being de-risked daily.

— Mike Novogratz (@novogratz) October 27, 2020

Mike himself said the other day that Bitcoin should be thought of as digital gold, i.e. an asset used to store wealth and not transact it on daily basis.

While the transactional value is still low, perhaps partly due to unpronounced consumer interest, Novogratz is a firm believer in Bitcoin as an asset.

He expects it to gain transactional power, too, but not within the next five years.

Guarded optimism is a good approach to Bitcoin, of course.

And, in terms of transactional power, gaming websites have been leading in providing users with a safe and reliable way to transact BTC.

If you are keen on gaming yourself, you can go to Bitcasino, 1xBit or FortuneJack.

Want the chance to win an iPhone 11 Pro? Then take a couple of minutes to complete our CGN survey.

David

David is co-founder of CryptoGamblingNews.com, and has worked in the crypto gambling space since 2015.

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