• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Price & Market
Cap Data from
Nomics Logo Nomics Logo
Bitcoinist.com
Join Student Coin ICO
No Result
View All Result
  • Home
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Trade
  • Play Games
  • Mining
  • Home
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Trade
  • Play Games
  • Mining
Bitcoinist.com
No Result
View All Result
Novogratz Bitcoin
Nexo

Novogratz: Institutional Money Coming in the Next 6-12 Months

Georgi Georgiev by Georgi Georgiev
2 years ago
in Bitcoin, Bitcoin Investment, News, News teaser
0

Former Wall Street hedge fund manager and popular Bitcoin proponent Mike Novogratz thinks that institutional money will start coming into the cryptocurrency market in the next 6 to 12 months as custody solutions are rolled out. 


They Won’t “Rush In on Day One”

Speaking on Bloomberg Daybreak: Middle East, the CEO at Galaxy Digital laid out his current position on Bitcoin and the cryptocurrency market.

Novogratz acknowledged the tumultuous nature of 2018 for the cryptocurrency market, as a lot of the digital currencies have collapsed in value with more than 90 percent, while the market itself has lost upwards of $700 billion.

However, he also remains firm on his feet, holding that recovery will follow.

He said that all the “retail friends that came up and down are washed out” and that the market is in the process of “handing off ownership from retail to institutions.”

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Fidelity Investments Adds Cryptocurrency Integration Through Coinbase

The expert outlines that all the architecture which institutions need to “feel comfortable” is currently being put in place.

Namely, Novogratz noted Bakkt and Fidelity as important steps in providing trusted custody solutions, saying that they are likely to come in somewhere next month.

However, he also holds that institutions won’t “rush in on day one” but they would rather take their time and see some “water run through the pipes.”

Nevertheless, Novogratz predicts that institutions will allocate a small amount of their assets into the cryptocurrency market over the next 6 to 12 months while clarifying that “a small amount of institutional assets is a lot of money.”

Bitcoin Will Be ‘Digital Gold’

Commenting on Bitcoin, Novogratz said that the cryptocurrency “is going to be digital gold.” He outlined that it will be a place where “you have sovereign money.”

It’s not US money, it’s not Chinese money, it’s sovereign. And so sovereignty, it costs a lot. It should cost a lot.

Novogratz has said that bitcoin will become “digital gold” before. In December 2018, he said:

I do believe Bitcoin is going to be digital gold. That means it’s the only one of the coins out there that gets to be a legal pyramid scheme. Just like gold is.

But he’s also not the only one to compare Bitcoin to the precious metal. In fact, some proponents like Digital Currency Group’s Barry Silbert have argued that Bitcoin is ’50 times more useful’ than gold.

The popular Bitcoin investors, owners of the Gemini cryptocurrency exchange, Tyler and Cameron Winklevoss, have also said that Bitcoin is better than gold.

Do you think institutional money is coming to the cryptocurrency market? Don’t hesitate to let us know in the comments below!


Images courtesy of Shutterstock

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Georgi Georgiev

Georgi Georgiev

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
© 2021 Bitcoinist.com. All Rights Reserved.
  • Home
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Trade
  • Play Games
  • Mining

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.