In a latest interview with CNBC, Mike Novogratz opined that Bitcoin, the world’s largest cryptocurrency, was not going away regardless of the huge disaster.
Nevertheless, he believes that plenty of tokens will find yourself being washed out. Solely these cryptocurrencies which have some utility will have the ability to survive this crypto winter, in accordance with the cryptocurrency mogul.
The cryptocurrency mogul additionally doesn’t see the market having a swift and easy restoration provided that the trade should rebuild belief.
Talking of the FTX debacle, Novogratz described it as “stunning.” He added that disgraced founder Sam Bankman-Fried “actually” did issues that have been unlawful.
As reported by U.As we speak, the Galaxy Digital boss just lately in contrast FTX to the notorious biotech rip-off Theranos. At that time, Novogratz was nonetheless hesitant to say whether or not FTX was unlawful or just immoral.
On the similar time, Novogratz is satisfied that the collapse of the second-biggest alternate was not an indictment of crypto itself.
The billionaire has acknowledged that cryptocurrency belongings have been in the midst of a bubble.
Bitcoin and Ethereum are down 76.21% and 76.20% from their report peaks, respectively.
As reported by U.As we speak, Novogratz just lately predicted that the worth of Bitcoin might attain $500,000 in simply a few years.
Within the meantime, Cathie Wooden just lately doubled down on her agency’s $1 million worth name.