Mike Novogratz Says You Can Be Optimistic About Both Gold And Bitcoin

Alex Dovbnya

Bitcoin mogul Mike Novogratz has a perfect response for Peter Schiff

Galaxy Digital CEO Mike Novogratz has weighed in on the long-dormant debate between Bitcoiners and gold bugs, claiming it’s possible to be optimistic about both assets.

The cryptocurrency billionaire says both can protect competing assets from the cut of fiat currencies.

Novogratz’s comments came in response to Peter Schiff, CEO of Euro Pacific Capital, who attacked Dave Portnoy of Barstool Sports for his comments about Bitcoin.

Amid wider institutional, Bitcoin has emerged as a legitimate alternative to gold.

Last year, Jurrien Timmer, the director of Global Macro at the mutual fund Fidelity Investments, believed that Bitcoin’s finite supply was a major advantage over gold. A recent report published by the Boston-based investment giant has bolstered the “better than gold” argument.

As Bitcoin vies to supplant the yellow metal as the primary store of value, there is a lot of animosity between the two camps of investors.

Novogratz has long maintained that he likes both trumps. Last October, however, he predicted that Bitcoin would continue to dwindle gold’s market share.

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