Cryptocurrencies

Bitcoin Is Below $7,000 But Novogratz Stays Long, Shorts Stocks

Unprecedented central-bank actions seen raising appeal
Hedge funds, wealthy individuals are buying, advocate says

WATCH: Billionaire Mike Novogratz, Galaxy Investment Partners chief executive officer, discusses his short call for equities and credit, and the outlook for Bitcoin.Daybreak: Americas." (Source: Bloomberg)

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Vildana Hajric and Erik Schatzker

April 13, 2020 at 2:35 PM UTC

This article is for subscribers only.

Famed investor Mike Novogratz says this is the time for Bitcoin, citing greater adoption around the globe and unprecedented actions by central banks battling the fallout from the spreading coronavirus.

“The risk on any store of value, if it’s gold, is that enough people believe in it,” Novogratz said in a Bloomberg TV interview. “It’s still a question of adoption. I’m just seeing more adoption here in the U.S. and in Europe than I have literally since I started this.”