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Mike Novogratz Says Bitcoin Won the War of Cryptocurrencies

  • Billionaire expects more gains after Bitcoin tops $6,000
  • Facebook’s entry would be a boost for the ecosystem, he said
Bloomberg business news
Michael Novogratz discusses the landscape for cryptocurrencies with Bloomberg’s Erik Schatzker.Source: (Bloomberg)

Bitcoin has won the war of cryptocurrencies.

That’s the view of Michael Novogratz, the billionaire co-founder and chief executive officer of Galaxy Investment Partners LLC, one of the most prominent companies in the embryonic digital-asset market. The original cryptocurrency is viewed as a store of value, like gold, while other coins still have to find their uses, he said.