Billionaire Mike Novogratz Says This Is the Most Bullish Underpinning of Bitcoin Besides Store-of-Value Use Case

Galaxy Digital chief executive Mike Novogratz is unveiling what he thinks is the most bullish thing about Bitcoin (BTC) other than its store-of-value utility.

In a new On the Tape podcast interview, the billionaire details what he says people are missing about the top crypto asset by market cap – that it sparked an ongoing global and viral financial revolution.

“So what I think people miss – and I talked about this a lot in 2017 when we had our first mania – is that crypto was really the first ever global speculative mania. We never had a global market.

We had a couple stocks that were trading globally, but if you go back and look at the 1999 internet bubble, you didn’t have anyone in Korea participating, anyone in India participating, anyone in Russia participating or anyone in Africa participating.

Crypto is global, and just like I’m telling the Bitcoin story on CNBC and Bloomberg and on podcasts here in New York, there’s someone in a village in Indonesia telling that story and the viral nature of eight billion people getting more converts every day is really hard to stop.

The other piece of this is Bitcoin exists within a movement – you can call it crypto or decentralization – and that movement touches people in a way because it feels like it’s a revolution, it’s a revolution of saying ‘I want to cut out the middleman, I want to trust myself, I want to have peer-to-peer transaction, [and] I want to have more efficiency, equal access.’”

Bitcoin is trading for $42,532 at time of writing, a fractional increase during the last 24 hours.

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