RATE Group | Novogratz’s Buying Bitcoin After ‘Volaciraptor’ Ravaged Markets
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Novogratz’s Buying Bitcoin After ‘Volaciraptor’ Ravaged Markets

24 Mar Novogratz’s Buying Bitcoin After ‘Volaciraptor’ Ravaged Markets

Posted at 22:06h in Bitcoin News by

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(Bloomberg) — Billionaire investor Mike Novogratz is using the recent Bitcoin slump as a buying opportunity.

Bitcoin got “terrorized” during the latest bout of volatility that Novogratz dubbed “the volaciraptor,” a play on the name of the destructive dinosaurs associated with the Jurassic Park movies. The largest digital currency dropped from about $8,500 at the beginning of March to as low as $3,914 mid-month.

“If there was ever a time — debasement of fiat currencies, monetization of trillions of dollars of debt, this is the time for Bitcoin,” the chief executive officer of Galaxy Digital Holdings Ltd. said in a television interview with CNBC, adding that he might continue to buy dips in gold and Bitcoin today.

Novogratz has been bullish on the digital token for years, predicting on Tuesday that it will rally this year. It was designed to be an alternative when central banks have “run amok,” he said. Global central banks have taken unprecedented steps in recent…

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