Home / Business / Mike Novograz: Galaxy Digital avoids losses after the first case of Bitcoin by 60%

Mike Novograz: Galaxy Digital avoids losses after the first case of Bitcoin by 60%



In an interview with Bloomberg, Mike Novograz reported that although Galaxy Digital Holdings cryptobank losses since the beginning of the year were $ 136 million, they did not lose their "brainchild" money at the time of the first Bitcoin exchange rate drop by 60%. He also compared cryptocurrency investments to drug abuse and the current situation in the rehabilitation market.

"To be honest, we did an excellent job and did not lose money when Bitcoin fell with the first 60%. Let's not forget the bitcoin that has fallen 84%, lost 60% and then 60%. From here, the pain begins. You buy the shipping, because it costs $ 400 after it costs $ 1

300, but then it drops to $ 100, and you lose 75%. In this context, we did not do anything terrible but remained in red , " – said the cryptoinvestor.

When we were coming to a baisse this year, Mike Novograz hoped Bitcoin would hold $ 6,200. The fall in the crypto market was due to Bitcoin Cash hard forks and pressures from the Securities and Exchange Commission (SEC) on any ICO Innovative companies.

Novograz believes that SEC actions have scared many investors with potential losses. Nevertheless, the SEC does not want to kill technical innovations, he added. Novograz also stressed that the ICO market is now dead because of an exploded hyip and many fraud.

"We talked to the SEC in detail about this. I think what is waiting for us is the security ticketing market – such as a portfolio of tokened property objects. Such things do not rise from $ 1 to $ 1,000. They bring in 14% each and sold to qualified buyers. It sounds really sexy, but you will see that the business will grow in that direction. "

The billionaire noted that, even though he believes in crypto currency when the price is" bad " does he sell coins. According to him, Bitcoin will not fall to zero, despite the fear of society.

"Many of my friends in the crypto market simply could not retreat. They said," It will change the world. "But revolutions do not happen overnight. When you're in a speculative mania, testosterone" boils " and you are seized with greed. The crowd became more sober – the drug disappeared. We are now on the other side, where pessimism and fear prevail " – he said.

Recall that Novograts announced that Bitcoin will reach new heights with the arrival of institutional investors in the market in the first half of 2019. [19659004] Subscribe to the ForkLog channel on YouTube!

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