Mike Novogratz: ‘Bitcoin is insurance, and the governments know that’

Crypto investment firm Galaxy Digital CEO, ex-hedge fund manager, and billionaire Mike Novogratz has said bitcoin is a hedge against the dollar inflation, and the government is aware of the asset’s status.

Speaking to the Earn Your Leisure Podcast, Novogratz said people are looking for insurance, and the dollar does not offer any due to the printing of more money.

According to the billionaire, bitcoin’s fixed supply is a lesson to the government regarding excessive printing of money in managing the budget deficit.

He notes that the stimulus spending will have a negative impact on the dollar and the economy in the long run.

Keep reading