Mike Novogratz sold “a little bit” of bitcoin but wishes he’d sold “a lot”

mike novogratz

In an interview with Mike Novogratz, CEO of Galaxy Digital Holdings, the billionaire notes that he sold a little bit of his bitcoin (BTC) last Wednesday. However, he says he regrets that he has not sold any more. Novogratz said in an interview with CNBC on Thursday.

One of the reasons that he sold the bitcoin was the fact that the rate is going through parabolic growth for a while. “When you go parabolic, you have to,” says Novogratz.

In addition, Novogratz says he is sorry. He said: “If you had been perfect, you would have sold a whole lot of bitcoin.” He himself only sold “a little bit”, while he himself said that he should have sold “a lot” at that time.

Novogratz, however, remains bullish. In the interview he cited Libra, the cryptocurrency of social media giant Facebook. According to him, the unveiling of the cryptocurrency was an important trigger for the rate to break through the $ 10,000. He said:

One of the largest companies in the world says they believe in cryptocurrencies. If you are an institutional investor who is still worried, this can give you much more confidence.

He also noticed that most of the volume comes from China. It seems that many Chinese use bitcoin to get their capital out of the country.

According to him, this is mainly due to the fact that the government of the country makes it increasingly difficult to get money out of the country. The government wants more control over the fiat currency of the country, the yuan. However, this has actually led to the Chinese investing more in bitcoin.

Finally, Novogratz also did some sort of price prediction. He now expects that bitcoin will continue to trade between $ 10,000 and $ 14,000 for the coming period.

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About Shawn Morrison 203 Articles
One of the founders of BitzArena. Active with crypto currency since the rise of the bitcoin. Loves the innovative character of crypto and blockchain technology, and follows developments in the market closely. Likes to connect technology with business, and likes to make difficult concepts accessible to a wide audience.

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