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Mike Novogratz and Dave Portnoy Say Buy Bitcoin and Not Gold

One says the cryptocurrency is a better bet because it’s harder to buy, while the other believes Elon Musk could bring down bullion.

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Novogratz on Bloomberg Television

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Michael Novogratz is a veteran Wall Street fund manager and cryptocurrency maven who readily acknowledges when he earns a “black eye,” while Dave Portnoy is the brash founder of a media empire who only recently began touting stocks and has disparaged Warren Buffett.

Their backgrounds and personalities may be vastly different, but both are now offering the same investment recommendation: Bitcoin is a better long-term bet than gold.