Mike Novogratz: BTC and ETH Are Among the Best Long-Term Investments | Live Bitcoin News

Bitcoin bull and hedge fund manager Mike Novogratz is again in the news trying to tell everyone that bitcoin and Ethereum are the best long-term investments anyone can take part in.

Mike Novogratz Still Loves Bitcoin

In a recent interview, Novogratz took issue with the trading volumes for both cryptocurrencies, which appear to be somewhat down at the time of writing. He said bitcoin and Ethereum are the best items a person can invest in over the next several years, and he believes both digital currencies are going to put major stocks for big-time financial firms like JPMorgan to shame. He commented:

You shouldn’t buy as much bitcoin as you do JPMorgan stock, but volatility adjusted, it’s been a much better bet than JPMorgan.

It’s interesting that Novogratz would bring up volatility in the above quote given volatility for bitcoin has allegedly sunk to its lowest point in roughly three years. The currency has been on something of a roll since the start of 2023, and while there have been little hiccups along the way, the asset is up about 65 percent from where it ended 2022 (arguably the worst year on record for crypto).

Still, this doesn’t change the fact that a lot of room for healing remains. The currency, back in November of 2021, was trading for about $68,000 per unit (a new all-time high), but it fell into the mid-$16K range just over a year later. While the asset may be up more than 60 percent from where it was at the end of 2022, there’s still another 60 percent to go if it wants to be back where it was two Novembers ago.

The good news, according to Novogratz, is that bitcoin has endured something of a tight range over the past few months. He said:

You could pierce either side of the range and have a quick move.

He also said he’s certain bitcoin will endure another major rally as soon as the Fed agrees to end its rate hikes to curb inflation. However, his one serious complaint was that many institutions are still refusing to get involved in bitcoin, claiming:

That’s stopped by a combination of Sam and Gary.

He is, of course, referring to Sam Bankman-Fried – the disgraced executive of fallen crypto exchange FTX – and Gary Gensler, the persecuting leader of the Securities and Exchange Commission (SEC).

An AI Bubble Has Hit the U.S.

He also pointed out another problem and said the U.S. is trapped in an AI bubble, something he thinks will last a while. He stated:

Bubbles always happened around things that fundamentally changed the way we live. They’ve almost happened around the real thing. The story is so powerful, and people buy way in advance and get caught up in the frenzy.

• SEO Powered Content & PR Distribution. Get Amplified Today.
• PlatoData.Network Vertical Generative Ai. Empower Yourself. Access Here.
• PlatoAiStream. Web3 Intelligence. Knowledge Amplified. Access Here.
• PlatoESG. Automotive / EVs, Carbon, CleanTech, Energy, Environment, Solar, Waste Management. Access Here.
• BlockOffsets. Modernizing Environmental Offset Ownership. Access Here.
• Source: https://www.livebitcoinnews.com/mike-novogratz-btc-and-eth-are-the-best-long-term-investments/