Ah, the charming tales of the billionaire Mike Novogratz! He proclaims that Bitcoin and the wild world of crypto will someday rub elbows with the titans of gold, those ancient shiny rocks valued at a stout $22 trillion. Imagine that! Gold, the heavyweight champion of wealth storage, shaking in its boots while Bitcoin prances around promising to take over, all while the market’s swinging like a pendulum on a drunken carpenter’s site.
In an interview with CNBC — because what better place to dream about billions than on TV where your words can be twisted by every shady character with a microphone — Novogratz blames the recent crypto crash on overexuberance, Trump coins, and other foolish fare. Yes, folks, nothing says “market correction” like a memecoin named after a former president’s face or a dragon with the face of Uncle Sam.
But wait! Don’t cry too soon, because this billionaire savior swears the storm passed, and now it’s time for Bitcoin to rise from the ashes like a phoenix on steroids — aiming for $130,000, $150,000, or who knows what. Just wait until the next euphoria, and we’ll all be swimming in digital gold.
He chuckles and says, “Crypto went back and tested where the [US presidential] election breakout was. Now it looks like we’ll take out $106,000, $107,000, $108,000, and make the next to $130,000, $150,000.” Oh sure, easy as pie — until it isn’t.
Zoom out, if your eyes can handle it without rolling out of your skull. Novogratz believes that someday, in the distant future—probably after Bitcoin has learned to walk and talk—you’ll see crypto turn into gold’s equal. Today, gold dominates with its 22 trillion shiny rocks, but tomorrow? Crypto might share the throne, once the young heirs inherit the loot and decide that digital assets are the new “Must-Have” toy of the century.
He explains like a seasoned fortune teller, “And at that point, you’re at price discovery. I keep thinking that gold is a $22 trillion asset and crypto is a $2 trillion asset. And at one point, as more and more young people inherit the money from old people who kiss the face of god, you’re going to see crypto equal gold and that’s a long way from here.” Yeah, sure, keep dreaming, Mike. Dreams are free.
Last year, this wise man predicted that millennials—those digital natives—would lead the parade into the land of digital treasures, outpacing the old-timers who still swear by their buried treasure chests and shiny rocks. The “great wealth transfer” is said to hand—brace yourself—a $90 trillion jackpot to Millennials over the next twenty years. Whoopee! Digital dollars, anyone?
At the time of printing, Bitcoin is trading at a modest $103,137. So close to the big dreams, just a few coins away from eternity.
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2025-05-18 23:02