According to billionaire and Galaxy Digital CEO Mike Novogratz, gold and bitcoin will update their highs soon.
The financier expressed this point of view on the air of the CNBC television channel and noted that both assets are the best form of capital preservation in the face of rising inflation. Gold has risen in price by more than 7%, and Bitcoin has increased in value by about 20% since July.
At the same time, a trend was recorded to strengthen the correlation between these assets. This trend signals that BTC has finally secured the status of digital gold.
Novogratz believes investors have begun to shift from technology stocks to gold and bitcoin. They are confident that by purchasing such tools, you can earn much more. Mike Novogratz enters the camp of the so-called "bitcoin bulls." He periodically predicts that BTC is set to strengthen in the long term.
The billionaire recently said that the largest digital currency could significantly strengthen its position in the market if institutional investors begin to actively enter it. Novogratz believes that the arrival of institutions in BTC will become massive over the next one to two years.