Despite Bitcoin price crash, BTC is the internet of value transfer

The crypto market is back to major price swings followed by a Bitcoin price crash on Tuesday, the day the largest cryptocurrency became legal tender in El Salvador. But it was not unexpected for many crypto veterans, including Galaxy Digital CEO Mike Novogratz.

Speaking to Bloomberg, the billionaire Bitcoin bull said that crypto is still dominated by retail investors, who are “too excited” by the recent interest from institutions like Visa and Amazon.

People are realizing that “crypto is not just Bitcoin being bought as a hedge against bad monetary fiscal policy,” he said. “But maybe, more importantly, it’s Web 3.0. It’s the internet of value transfer.”

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