RATE Group | XRP Is Beating Bitcoin in 2020 – But This Crypto Whale Is Still Betting on BTC
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XRP Is Beating Bitcoin in 2020 – But This Crypto Whale Is Still Betting on BTC

09 Feb XRP Is Beating Bitcoin in 2020 – But This Crypto Whale Is Still Betting on BTC

Posted at 02:14h in Cryptocurrency News by

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The CEO of crypto investment bank Galaxy Digital is clarifying his recent comments on XRP and Bitcoin.

At last week’s LINC 2020 conference in Orlando, Florida, Mike Novogratz said he believes Bitcoin will outperform XRP by a wide margin in 2020.

Now, Novogratz has unleashed a tweetstorm to explain his bearish call on the third-largest cryptocurrency. He admits that XRP’s performance so far this year – along with the altcoin market at large – has taken him by surprise. At time of publishing, XRP is up 43% in 2020, while Bitcoin is up 36%. However, Novogratz says the institutional investors he’s talking to remain focused on BTC.

“This year the broader alt market, including XRP has outperformed BTC. This has surprised me. That said, I see more and more large accounts getting educated and set up to be accumulators of BTC and believe on a risk adjusted basis it’s the best place to bet on crypto.”

Novogratz says Bitcoin has cemented its…

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