Mike Novogratz had been up all night trading crypto but has not dumped his BTC even though Bitcoin price has surpassed $19,000
Mike Novogratz, CEO of Galaxy Digital, said he stayed up all night trading cryptocurrencies but didn’t dump his Bitcoin. Or, to be more precise, Novogratz is hoarding his Bitcoin even though the Bitcoin price has surpassed $ 19,000, on the verge of setting new highs since 2017.
I’ve been up since 2am trading crypto. Haven’t touched $BTC. Im HODLing there. Can’t tell if the alt squeeze is over but feels like it might be. I like Defi more than ghost chains. A lot more. The top 10 market cap coins will look 50percent different in 18 months.
— Mike Novogratz (@novogratz) November 24, 2020
Mike Novogratz holding BTC even though Bitcoin price has surpassed $ 19,000, setting a new high since 2017
Earlier today, Bitcoin rushed past $ 19,000 resistance, set new highs since 2018, and moved closer to breaking past 2017 highs of $ 20,000.
Novogratz tweeted that he didn’t sell Bitcoin but continued to want to buy more. He was the first to accept Bitcoin and bought his first 30,001 BTC in 2012 – 2013 with a business partner when he first knew Bitcoin.
First, as Novogratz shared in his BTC and ETH buyback story, he plans to buy a jet with a profit, waiting for Bitcoin to reach $ 2,000. However, he later changed his mind. Sharing about when he first bought Ethereum, Novogratz learned about it from his college friend Joseph Lubin and bought 500,000 ETH from the Ethereum Foundation in 2015 – when ETH was trading below $ 1.
He stated:
Earlier today, Bitcoin crossed the $ 19,000 threshold. Experts believe the current Bitcoin rally is caused by several factors, primarily due to a surge in institutional interest from companies like MicroStrategy, Square, Grayscale, and the like. Financial institutions now recognize Bitcoin as an asset and a store of value that can protect their money from inflation.
Following stimulus measures taken by the US Federal Reserve this year due to the pandemic’s impact on the economy, Bitcoin stands out as an asset with a fixed emission of 21 million, no how can be extended.
In May, the Bitcoin Halving event only made BTC even more scarce, as the amount of money generated by the miners is now halved. And this is what makes Bitcoin is expected to increase in price.
You can see the BTC price here.
Read more:
- Bitcoin Price Is Trading In A Range, And It Could Correct Lower Sharply If There Is A Break Below $18,200
- Bitcoin Whales Are Moving Their Holdings To Coinbase As More And More Users Registered To Use The Exchange