Cryptocurrencies
Novogratz Says Bitcoin is Digital Gold, Not a Currency for Now
- Coin unlikely to be used as a means of exchange next 5 years
- Banks, credit card companies to follow PayPal, Novogratz says
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Billionaire investor Mike Novogratz is doubling down on a call Bitcoin serves as digital gold.
“I don’t think Bitcoin is going to be used as a transactional currency anytime in the next five years,” Novogratz, founder and chief executive officer of Galaxy Investment Partners, said in an interview with Bloomberg TV and Radio. “Bitcoin is being used as a store of value.”