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Ever since Bitcoin’s price moved from its several months-long slumber, the crypto industry has been following its progress with a lot of excitement. Speculation regarding where the price will go, and whether or not this is the beginning of a bull run that will take BTC to a new ATH have been growing with every passing day.

Meanwhile, influential traders continue to praise BTC, as even institutions started approaching with greater interest. One example is Galaxy Digital’s Mike Novogratz, a billionaire that has been supporting BTC for years, now.

Novogratz was interviewed by Bloomberg yesterday, August 14th. Being a successful businessman and trader, his opinion of the direction the crypto market is taking has always been highly valued. This time, Galaxy Digital’s CEO touched upon BTC, as well as gold.

Novogratz noted that gold has a huge potential to surge right now, possibly even hitting $2,500 to $3,000 per ounce. He believes that this is the case due to the money printing that the banks turned to earlier this year.

However, his optimism regarding BTC seems even greater, as he called it a ‘better investment than gold.’ Novogratz stated this as an answer to the question of whether crypto is a good store of value. This statement confirmed his previous forecast that BTC is likely to hit $14k in the coming months.

He also added that Bitcoin could go back to $20,000 by the end of the year,

Novogratz is also not the only one who has such strong faith in Bitcoin. Similar statement came from Goldman Sachs’ former head of hedge fund sales division, and the current CEO of Real Vision, Raoul Pal.

Pal said that trading BTC is better than trading pretty much anything else right now. He also admitted to believing that it is not worth owning any other asset in the long-term.

The same sentiment is shared by the author of “Rich Dad Poor Dad,” Robert Kiyosaki, who said that BTC is still the sleeper, but is likely to become ‘the fastest horse.’

GOLD is up 35% in 2020. S&P only 3%. Silver is still the best, still 30% below all time high. Best because it is limited in quantity, used in industry and still affordable for those with tight budgets. The sleeper is Bitcoin. I suspect it is about to become the fastest horse.

The post Mike Novogratz calls Bitcoin a better investment than gold appeared first on Invezz.

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