Bitcoin Is Back! Mike Novogratz Shares His Thoughts on Crypto Revival
• Mike Novogratz, a VC investor and crypto proponent, believes that the industry’s troubles are coming to an end due to recent developments.
• BlackRock’s bid to launch a spot Bitcoin ETF was cited as the single most important event of this year for the crypto industry.
• Novogratz advised investors to look into AI-based projects for potential investments.
Bitcoin Is Back Thanks to Recent Development
Mike Novogratz, a longtime VC investor and crypto proponent, shared his thoughts on Bitcoin and the wider cryptocurrency industry in a long-form interview with Bloomberg TV. He believes that recent developments have signaled a turnaround in fortunes for the sector after facing numerous challenges over the past two years.
BlackRock Brought Bitcoin Back
Novogratz considers BlackRock’s application for a spot Bitcoin ETF as being particularly influential in renewing confidence in cryptocurrencies, especially since Larry Fink – CEO at BlackRock – had previously been skeptical of them at best. In November he stated “this is going to be a global currency” which showed that he had changed his stance on digital assets and Novogratz believes this will lead other investment firms to follow suit.
AI Hype Train Ripe For Investment
Novogratz suggested investors look towards AI-based projects for potential investments; citing these as having great potential due their ability to rapidly process large amounts of data and execute tasks autonomously. He also noted that it is important to understand how machine learning works so you can better identify projects worth investing in.
The launch of Worldcoin was praised by Novogratz who described it as being part of “the next wave of innovation” showing progress beyond just Bitcoin or Ethereum. He went on to note how it will help bring about greater decentralization within the ecosystem by allowing users access services without relying on traditional centralized networks such as banks or governments.
In conclusion, Mike Novogratz feels positive about recent developments within the cryptocurrency space; believing that they signal renewed confidence from investors and could lead to further growth within the sector in future months and years.