mido-finance.com

Since Bitcoin’s price moved from its several months stability, the cryptocurrency industry has been following its progress with a lot of eyes on it. Some traders say Bitcoin is a better investment than gold.

Speculation regarding where the price will go, and whether or not this is the beginning of a bull run that will take Bitcoin to a new ATH have been growing every day.

Meanwhile, influential traders continue to praise Bitcoin, as even institutions started approaching with greater interest. One example is Microstategy and another one is Galaxy Digital’s Mike Novogratz, a billionaire that has been supporting it for years, now.

Bitcoin is a better than gold to invest, says Novogratz

As a successful businessman and trader, his opinion of the direction the cryptocurrency market is taking has always been highly valued. This time, Galaxy Digital’s CEO touched upon BTC, as well as gold.

Novogratz said that gold has a huge potential to surge right now, possibly even hitting $2,500 to $3,000 per ounce. He assumes that this is the case due to the money printing that the banks has started.

However, his optimism regarding Bitcoin seems even greater, as he called it a ‘better investment than gold.’ Novogratz stated this as an answer to the question of whether cryptocurrrency is a good store of value. This statement confirmed his previous forecast that Bitcoin will hit $14k in the coming months.

He added that Bitcoin could go back to $20K by the end of the year.

Other influential traders and investors’ opinion

Novogratz is not the only high-profile investor who has such strong faith in Bitcoin. Similar statement came from Goldman Sachs’ former head of hedge fund sales division, and the current CEO of Real Vision, Raoul Pal.

Pal said that trading Bitcoin is better than trading pretty much anything else right now. He noted that it is not worth owning any other asset in the long-term.

The same sentiment is shared by the author of “Rich Dad Poor Dad,” Robert Kiyosaki, who said that Bitcoin is still the sleeper, but is likely to become ‘the fastest horse.’