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Galaxy Digital Founder: Bitcoin Is Not Suitable for Currency

By WebsCryptoMarch 20, 20221 Min Read
Galaxy Digital Founder: Bitcoin Is Not Suitable for Currency
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Mike Novogratz, founder of Galaxy Digital, said that unlike other crypto assets, Bitcoin BTC -0.43% is not suitable for being a currency, while Ethereum ETH 0.13% (ETH) is already a medium of exchange.

Mike Novogratz said: I don’t think BTC will become a currency, I think it will become a store of value, but Ethereum is already trading like a currency, ETH is becoming the currency of culture, when When people buy NFTs, they spend ETH, people choose to join the Bitcoin community, more people own Bitcoin than the entire population of Russia, and the Bitcoin community is equivalent to the eighth largest country in the world by participants.

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Also, if Fed Chair Jerome Powell and U.S. Treasury Secretary Janet Yellen can get inflation back to 2% while reducing debt, Americans won’t have to buy BTC.

DISCLAIMER: The information provided by WebsCrypto does not represent any investment suggestion. The articles published on this site only represent personal opinions and have nothing to do with the official position of WebsCrypto.
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