This is one of my favorite interviews of all time — the crypto guru — the man who called Bitcoin $10,000, professional investor who sees more inside of his crystal ball.
Mike Novogratz from Galaxy Investment Partners said the $300 billion market cap in the cryptos is ‘nothing’, juxtaposing it against the frothiest bubble of all time — Nasdaq circa 2000 at $6 trillion, stating this phenomena in cryptos is global, unlike the Nasdaq, implying that Bitcoin should replace gold.
Short term, Mike is looking for modest gains of at least 300%, and perhaps 6x by the end of 2018 — up to a $2 trillion market cap.
Plainly, Novogratz doesn’t understand why Bitcoin can’t be equal to or more in market cap than gold’s $8 trillion — suggesting the ancient metal’s glory days were behind it.
REMINDER: The CME will begin trading futures for BTC on 12/10, which means Wall Street will have a liquid market to short it.
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this “guru” is a pumper talking his own book and CNBC is a shill station
https://www.youtube.com/watch?v=7CSCI-C1N_o
Sean Connery – personally i think you’re a fucking idiot
You won’t read the stuff here:
https://lopp.net/bitcoin.html
It’s too much to ask you to have an open mind.
But I double dog dare you to read it, understand it, and maybe you too can make more money than you thought possible.
TL;DR
Old man yells at cloud.
I’m 41, a lot younger than Mike.
Fuck off.
Once CME gets a hold of it its going to be like every other commodity. TOAST. Second with only 16 million bitcoins in existence that means each person on the planet would only get .002 or $20, even at 6x thats 120$. $20 can get you two papa johns pizzas hawaian style. And thats all you can ever get. What a joke!
You have a very convincing argument regarding the law of supply and demand.
I think it was in the year 1637 when they had a chap on CNBC saying the same thing about tulips. Of course, this time is different… LOL… idiot.
So are you going to short it?
“The CME will begin trading futures for BTC on 12/10, which means Wall Street will have a liquid market to short it.”
I’m sorry but I just don’t see a disaster about to happen with bitcoin just yet. There are a lot of smart people who are knowledgeable about trading bitcoin—-including people on Wall Street (sans Jamie Dimon) Markets, being forward looking, would have already sold off in advance, if people thought that what you’re saying is going to be bad for bitcoin.
“Plainly, Novogratz doesn’t understand why Bitcoin can’t be equal to or more in market cap than gold’s $8 trillion — suggesting the ancient metal’s glory days were behind it.”
I’ll have to sell the wifes gold chains and other gold stuff and get her some bitcoin stuff… o(^_^)o
OR…maybe trade my gold…for weed.
Why does this whack job keep looking into the ceiling, corner etc. when he’s talking?
“The NASDAQ at it’s high in the 1999 bubble was six trillion. And the NASDAQ was a US lead bubble. This is a global phenomenon”. In other words, this is a _global_ bubble.
Just wait until the environmentalist morons wrap their tiny brains around the amount of energy we are wasting on this.