Thursday, March 04, 2021 11:01:04 PM
Novogratz Rips Cuban on Dogecoin While Reiterating $100,000 Bitcoin Forecast
By Misyrlena Egkolfopoulou and Matthew Leising
March 4, 2021, 5:20 PM EST Updated on March 4, 2021, 6:53 PM EST
Michael Novogratz loves Bitcoin. Dogecoin, not so much.
The long-time crypto bull reiterated his prediction that Bitcoin will probably hit $100,000 before the end of the year, but questioned fellow billionaire Mark Cuban’s decision to allow fans of the basketball team Dallas Mavericks to buy tickets and merchandise using the “meme” digital currency Dogecoin.
“Let’s put people in the safest best stuff, not these joke coins,” Novogratz said in an interview with Bloomberg TV. “I think Mark’s making a mistake there. He’d be better off with 15 other different ways to pay for his tickets.”
Mavericks owner Cuban, who made the announcement about Dogecoin earlier Thursday, had last month praised the entertainment and educational value of the cryptocurrency. It now boasts a market capitalization of more than $6 billion after being created as a joke in 2013 based on the meme of a smiling Shiba Inu.
Novogratz, who runs Galaxy Digital Holdings Ltd., said he’s made money by betting Dogecoin will fall, and that young investors who believe in the cryptocurrency are most at risk.
Instead, he reiterated his faith in other cryptocurrencies like DeFi coins and Luna coin. As for Bitcoin, if prices don’t hit $100,000 this year, they’ll be there next year, he said. He argued that it and other digital currencies have become “an institutional asset class” and banks are “frantically” trying to get in on the action.
“That existential threat of Bitcoin not being real is gone,” he said. “Every institution in the world is participating and so it’s an asset class and we’ve repriced it.”
Novogratz also said he believes Gary Gensler, the nominee for chairman of the U.S. Securities and Exchange Commission, would be good for the industry.
“Gary is gonna be great for crypto. Gary is smarter than a whip, he understands blockchain and Bitcoin,” Novogratz said. “Now we’ve got an SEC Chairman that’s gonna deal with it head on. Not every project is going to love what he does. But broadly, a clear set of rules is nothing but bullish for the space.”
— With assistance by Sonali Basak, and Emily Chang
https://www.bloomberg.com/news/articles/2021-03-04/novogratz-says-bitcoin-has-arrived-banks-desperate-to-get-in
Recent BTCUSD News
- Site of CZ’s downfall and pot crypto vendors: Crypto City Guide to Seattle • Cointelegraph • 09/25/2024 03:30:00 PM
- Hamster Kombat reveals plans for 2025 in new roadmap • Cointelegraph • 09/25/2024 03:00:00 PM
- Bitcoin price coils as market confirms $65K as ‘real resistance’ • Cointelegraph • 09/25/2024 02:49:27 PM
- Visa launches platform for banks to launch and test tokenized assets • Crypto Briefing • 09/25/2024 02:41:55 PM
- Fed’s ‘juice’ into crypto has analyst eyeing ‘trimming’ opportunities • Cointelegraph • 09/25/2024 02:41:42 PM
- Chainlink Sees 296% Jump In Large Transactions As Active Addresses Rise 14.7%, What’s Going On? • NEWSBTC • 09/25/2024 02:30:40 PM
- EOS Network significantly upgrades with 1-Second Transaction Finality • ChainWire • 09/25/2024 02:20:59 PM
- Nomic brings nBTC to Berachain, enables direct BTC conversions on Artio testnet • Crypto Briefing • 09/25/2024 02:01:03 PM
- Biggest fears about Bitcoin’s future: Industry weighs in • Cointelegraph • 09/25/2024 01:49:22 PM
- Been scammed? ‘Crypto crimestoppers’ claim to help get crypto back • Cointelegraph • 09/25/2024 01:45:00 PM
- Kamala Harris likely to fire Gary Gensler if elected, says Mark Cuban • Crypto Briefing • 09/25/2024 01:27:02 PM
- Here's what happened in crypto today • Cointelegraph • 09/25/2024 01:07:44 PM
- Ethereum Gains On Bitcoin Following Fed Rate Cut: Altseason Soon? • NEWSBTC • 09/25/2024 01:00:39 PM
- BitcoinOS launches BitSNARK ZK verification for enhanced privacy on Bitcoin • Cointelegraph • 09/25/2024 01:00:00 PM
- Here’s what happened in crypto today • Cointelegraph • 09/25/2024 12:25:24 PM
- LinkedIn, Gamified: Calyptus Intros Job Hunting Incentives To Accelerate Web3 Recruitment • ChainWire • 09/25/2024 12:00:12 PM
- 'Sustained' Bitcoin ETF inflows may 'buoy' price despite slowing spot buying • Cointelegraph • 09/25/2024 11:46:32 AM
- Cardano (ADA) Reclaims Top 10 Crypto Spot, Analysts Set New Targets • NEWSBTC • 09/25/2024 11:30:22 AM
- Ether.fi thwarts domain account takeover attempt, confirms user funds safe • Cointelegraph • 09/25/2024 11:11:53 AM
- Telegram bot Banana Gun to absorb $3M loss from hack • Cointelegraph • 09/25/2024 11:01:21 AM
- Email auto-reply vulnerability allows hackers to mine cryptocurrency • Cointelegraph • 09/25/2024 10:42:58 AM
- Bitcoin Could Top At $400,000 Based On This Model, Analyst Says • NEWSBTC • 09/25/2024 10:00:17 AM
- Bitcoin sell-side risk hits 2024 low just $10K from BTC price record • Cointelegraph • 09/25/2024 09:22:08 AM
- Glassnode Co-Founders Say Crypto on the Verge of Altcoin Season – Here’s Their Timeline • The Daily Hodl • 09/25/2024 09:15:18 AM
- Bitcoin Held For Years Are Now On The Move, Is This A Signal For Caution? • NEWSBTC • 09/25/2024 08:30:06 AM
North Bay Resources Commences Operations at Bishop Gold Mill, Inyo County, California; Engages Sabean Group Management Consulting • NBRI • Sep 25, 2024 9:15 AM
CEO David B. Dorwart Anticipates a Bright Future at Good Gaming Inc. Through His Most Recent Shareholder Update • GMER • Sep 25, 2024 8:30 AM
Cannabix Technologies and Omega Laboratories Inc. Advance Marijuana Breathalyzer Technology - Dr. Bruce Goldberger to Present at Society of Forensic Toxicologists Conference • BLOZF • Sep 24, 2024 8:50 AM
Integrated Ventures, Inc Announces Strategic Partnership For GLP-1 (Semaglutide) Procurement Through MedWell USA, LLC. • INTV • Sep 24, 2024 8:45 AM
Avant Technologies Accelerates Creation of AI-Powered Platform to Revolutionize Patient Care • AVAI • Sep 24, 2024 8:00 AM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM