Rising Inflation will Boost Bitcoin Adoption: Mike Novogratz

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Novogratz in an interview with CNBC states that as long as governments continue to tumble with the economics of their countries, Bitcoin will continue to see more adoption. As Bitcoin is a hedge against the bad policies of centralized governments.

Momentum Adoption of Bitcoin: Novogratz


Bitcoin will not likely succeed as a transactional currency, its forte would be a store of value (SOV) or in the form of digital gold assets. Bitcoin adoption as SVO is already very advanced, Bitcoin community is the 8th largest country in the world currently, and still attracting more participants who have lost faith in their government.

The US, Turkey, and Russia are the countries with rising disillusionment with governments. Novogratz says that if Fed Chairman Jerome Powell, or treasury secretary Janet Yellen, could get the US economy out of inflation, there would be no need to buy Bitcoin for US citizens.

The Russian and Turkish citizens who own wealth in Russian rubble or Turkish lira, would be feeling stupid at the moment going by the current economic situations of both countries, and when there is bad stewardship of the economy Bitcoin provides a great alternative, Novogratz stated.

The Best bullish outlook of Bitcoin Ever

The Bitcoin bull has already predicted the BTC price of assets to reach $500,000 over the next five years. Not just Novogratz, Michael Saylor, the CEO of MicroStrategy has also recently called Bitcoin “the American dream “ to get detached from political tensions.

Bitcoin continues the trade with volatility in the market has ranged from a high of $41,300 to a low of 37,700 in the last week. At the time of writing Bitcoin is changing hands at around $40,700, down 0.11% in the last 24 hours.