Investors See the Future in Bitcoin and Precious Metals

Investors See the Future in Bitcoin and Precious Metals

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According to Galaxy Digital CEO Mike Novogratz, there is not a single reason why Bitcoin will not be able to gain a foothold above $10,000 soon.

Mike Novogratz gave an interview to CNBC and said that having reached $10,000, Bitcoin will begin to strive for the mark of $14,000, and then $20,000.

The billionaire noted that he had no illusions about Bitcoin as a means of payment among the masses. Nevertheless, the actions of the US government and the Fed during the economic crisis showed that this could happen.

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In an interview, they also talked about China, which is working on creating its cryptocurrency. Besides, Japan, South Korea, and Hong Kong have already expressed a desire to cooperate with China in this direction.

Novogratz believes that the United States should properly respond to China’s actions, keep up with the development of modern technology, and release its digital dollar. Let us remember that earlier Facebook expressed a desire to create Libra cryptocurrency, which will appear in a few months.

Novogratz also spoke about the news that in the third quarter of 2020 Venmo and Paypal will add the ability to trade cryptocurrency. In his opinion, the main difference in the systems is that the digital dollar will be a decentralized asset.

SEC Chairman Jay Clayton recently resigned. In this regard, Novogratz considers it necessary to attract a person with more progressive views to this position. Hester Peirce is expected to chair the SEC until at least 2025. Galaxy CEO believes that she will be able to cope with the duties of Clayton.

Precious metals and Bitcoin instead of the dollar

Robert Kiyosaki once again spoke out in support of Bitcoin. The investor, author of the bestselling book “Rich Dad, Poor Dad” published a tweet in which he condemned the Fed’s policy and added that only Bitcoin and precious metals are real money.

Kiyosaki repeatedly wrote on Twitter about his dissatisfaction with government methods that negatively impacted the economy. However, these measures appear to have led to a slowdown in the incidence rate.

This is not the first time that Kiyosaki has criticized the Fed for printing fake dollars. The investor advises his supporters to invest in gold, silver, and Bitcoin to be able to protect capital.

Repetition of the 2009 scenario

Peter Schiff also spoke on Twitter and, quite predictably, supported gold. It is known that Schiff has a negative attitude towards Bitcoin, so his views do not coincide in all with the opinion of Robert Kiyosaki.

A proponent of gold said the price of an asset will skyrocket as it did in 2009. During the global mortgage crisis, the price of gold rose from 1,087.50 to 1,531.00 in just 2 years. The investor believes that the actions of the Fed directly influenced what will happen soon. According to Schiff, this time the rapid growth will be more serious and will be characteristic for a longer period.