Speaking to the Earn Your Leisure Podcast, Novogratz said people are looking for insurance, and the dollar does not offer any due to the printing of more money. According to the billionaire, bitcoin’s fixed supply is a lesson to the government regarding excessive printing of money in managing the budget deficit. He notes that the stimulus spending will have a negative impact on the dollar and the economy in the long run.
Novogratz advises investors to sell doge
Novogratz, who gave insights on various digital assets during the session, further warned investors against buying dogecoin. He advises investors to learn more about the asset and sell it when the price goes up. By press time, the meme-inspired crypto was trading at $0.36, up 17% in the last 24 hours, according to data provided by CoinMarketCap. The price surge followed tweets from Tesla CEO (NASDAQ: TSLA) Elon Musk and billionaire Mark Cuban showing support for the asset. Novogratz has in the past stated that the recent dogecoin spike in value is a retail phenomenon inspired by the supply of more money into the economy. He consequently warned investors against comparing doge’s rally to bitcoin. According to Novogratz: Furthermore, Novogratz has stated that as the crypto sector matures, investments will make up at least 2% of the global wealth between two to three years. [binance] Watch the video: Cryptocurrency, & FANG Stocks with Bitcoin Billionaire Mike Novogratz
