Bitcoin investor Michael Novogratz: People should Hold More Gold than Bitcoin




The most famous billionaire investor Michael Novogratz, he recently expresses his views in an interview. According to him, the investors own less bitcoin and hold more gold in their portfolio.

In the last month, in another statement, Novogratz also advice to the investors that they must keenly observe the Bitcoin and Gold. For a year, Novogratz was a hedge fund manager in the investment company, fortress investment group.

Currently, as an investor, the Novogratz strongly believe in digital currencies. He told the press in late 2017 that his 20 per cent of total wealth was in Ethereum and Bitcoin.

While in December 2017, he also forecasted the bear market prices value that’s why Novogratz is well-known for a prediction about price value of Bitcoin. Now, he is leading the famous firm Galaxy Digital Holdings Ltd, and Novogratz still making price prediction about cryptocurrencies including Bitcoin.

Moreover, on June 1, he tweeted for his 142,000 followers, and he says that people must “Look towards gold instead of Bitcoin”. If the chart breaks higher, it would accelerate Bitcoin.

Soon after the 1st week of July, the prices of Bitcoin hovering more than £7,109.01 zone. On July 8, he advises the people that they must hold more gold than bitcoin. During the Fast Money interview, Novogratz also told that bitcoin is way outperforming gold. So due to the volatility, I would suggest that the public should hold more gold and less gold.

Still, the Bitcoin is much challenging to purchase, and if it were easy to get, it would be much higher, and also there will be more and more bitcoin. While lately, the gold has been on the rise and if we look at the market, the per-ounce price of 0.999 pure gold has risen to the £1,422.70 per-ounce.

The price of per-ounce was up over 13 per cent on July 9, while during the mid-afternoon trading session, it was high-sky up to £1,431.40 per-ounce. The price value of gold is dropped as the spot markets reveals that one ounce is just trading for £1,424.82.

Moreover, another gold bug an expert Peter Schiff also like the fact that gold has gone above the £1,425.79 range.

Therefore, Schiff also said that many of the people are ignoring the running up of gold. He expresses his views that I have never seen such an unloved gold bull market. Additionally, the price value of gold has risen over 70 per cent and the gain of the S&P 500 to roundabout 40 per cent in late 2015.

Besides this performance and the excellent fundamentals chart pattern, the investors still giving preference to the stocks market.

Schiff recently wrote, that the bitcoin holders are profoundly hopeful and I observe from the prediction that I published every article about bitcoin that the bitcoin is at the edge of an explosive rally. He added, apart from all these optimism Bitcoin has ranged around £7,902.50 over the last three months.

About the author, Awais Rasheed

Leave a Reply

Your email address will not be published. Required fields are marked

{"email":"Email address invalid","url":"Website address invalid","required":"Required field missing"}