Mike Novogratz: Bitcoin less volatile than altcoins

Galaxy Digital founder Mike Novogratz, in a Squawk Box interview, said that volatility of the first cryptocurrency is lower than that of other digital assets.

«I do think volatility certainly in #bitcoin is coming down,» says @Novogratz. «As institutions come in we are seeing less volatility and I think that is a good thing. I don’t think bitcoin becomes a transactional currency. I think it is tailor made to be stored value.» pic.twitter.com/7VkU0xkBn6

— Squawk Box (@SquawkCNBC) December 23, 2021

«I really think Bitcoin volatility is decreasing. As institutional investors come in we are seeing less volatility, and I think that is good. I don’t think Bitcoin will become a transactional currency. It is designed to preserve value», he said.

Novogratz also called the first cryptocurrency digital gold and a hedge against fiat currency inflation.

Earlier he stated that 75% of altcoins не доживут до следующего десятилетия. According to Novogratz, Bitcoin will fundamentally change the financial system.

Back in November, SkyBridge Capital founder Anthony Scaramucci спрогнозировал the rise in the price of the first cryptocurrency to $500 000.

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