{"id":56410,"date":"2022-01-23T18:16:01","date_gmt":"2022-01-23T16:16:01","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=56410"},"modified":"2025-09-04T06:16:23","modified_gmt":"2025-09-04T03:16:23","slug":"mike-novogratz-bets-peter-schiff-1-million-on-bitcoins-price","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/mike-novogratz-bets-peter-schiff-1-million-on-bitcoins-price\/","title":{"rendered":"Mike Novogratz bets Peter Schiff $1 million on Bitcoin\u2019s price"},"content":{"rendered":"<p>Galaxy Digital founder Mike Novogratz has proposed to Peter Schiff, a gold advocate and Bitcoin sceptic, a $1 million bet on Bitcoin&#8217;s price.<\/p>\n<p>Under the proposal, Novogratz would donate the funds to charity or another cause of the opponent&#8217;s choosing if, in a year&#8217;s time, digital gold trades below $35,000.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/PeterSchiff?ref_src=twsrc%5Etfw\">@PeterSchiff<\/a> I\u2019ll bet $1mm to the charity of either of our choices that <a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a> is higher than 35k a year from now. You on? <a href=\"https:\/\/t.co\/ilQ5KJrHGP\">https:\/\/t.co\/ilQ5KJrHGP<\/a><\/p>\n<p>\u2014 Mike Novogratz (@novogratz) <a href=\"https:\/\/twitter.com\/novogratz\/status\/1484969725545398277?ref_src=twsrc%5Etfw\">January 22, 2022<\/a><\/p>\n<\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The day before, the founder of Galaxy Digital said the bear market had begun and urged investors not to buy on dips.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>Cryptocurrencies will have a hard time starting a rally until stocks hit bottom. That said, digital assets have already undergone a substantial sell-off and are starting to receive buying support<\/p>\n<p>\u2014 he explained.<\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">2) crypto will have a hard time rallying until stocks find a base. That said, crypto already had a decent sell off and is running into some buying support. <\/p>\n<p>Finally, the best traders get good at gallows humor \ud83d\ude02<\/p>\n<p>\u2014 Mike Novogratz (@novogratz) <a href=\"https:\/\/twitter.com\/novogratz\/status\/1484306175881461761?ref_src=twsrc%5Etfw\">January 20, 2022<\/a><\/p>\n<\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Against the backdrop of the cryptocurrency market sell-off, Schiff warned of Bitcoin falling below $10,000. He said the pattern forecasting moves below $30,000 should scare holders of long positions.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> has finally broken the neckline of a head-and-shoulders top. The scary part for the longs is that the pattern projects a move below $30,000. Once that level is breached Bitcoin will have completed a massive double top. From there a crash below $10,000 is highly likely.<\/p>\n<p>\u2014 Peter Schiff (@PeterSchiff) <a href=\"https:\/\/twitter.com\/PeterSchiff\/status\/1484370286510174209?ref_src=twsrc%5Etfw\">January 21, 2022<\/a><\/p>\n<\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>On Saturday, January 22, Bitcoin traded down to $34,000. At the time of writing the asset was trading at about $35,300. Bitcoin&#8217;s market capitalization stood at $670 billion, according to <a href=\"https:\/\/www.coingecko.com\/en\/coins\/bitcoin\">CoinGecko<\/a>.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"640\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2022-01-23-v-18.05.43-1024x640.png\" alt=\"Mike Novogratz bets Peter Schiff $1 million on Bitcoin price\" class=\"wp-image-162617\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2022-01-23-v-18.05.43-1024x640.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2022-01-23-v-18.05.43-300x188.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2022-01-23-v-18.05.43-768x480.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2022-01-23-v-18.05.43-1536x960.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2022-01-23-v-18.05.43-2048x1280.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>BTC\/USDT chart on Binance. Data: <a href=\"https:\/\/ru.tradingview.com\/symbols\/BTCUSDT\/\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>In September 2021 Schiff again criticised Bitcoin and <a href=\"https:\/\/u1f987.com\/en\/news\/peter-schiff-forecasts-an-imminent-collapse-of-the-cryptocurrency-market\">predicted the imminent end of the \u201ccryptocurrency bubble\u201d<\/a>. He also reaffirmed his commitment to gold and noted that the value of the precious metal lies in its utility.<\/p>\n<p>In the same month, Novogratz <a href=\"https:\/\/u1f987.com\/en\/news\/mike-novogratz-calls-bitcoin-the-next-internet\">called the first cryptocurrency \u201cthe next Internet\u201d<\/a>, and $40,000 for Bitcoin and $2,800 for Ethereum \u2014 <a href=\"https:\/\/u1f987.com\/en\/news\/mike-novogratz-identifies-key-price-levels-for-bitcoin-and-ethereum\">important price levels<\/a>.<\/p>\n<p>Read ForkLog&#8217;s Bitcoin news in our <a href=\"\/\/telegram.me\/forklog\" target=\"\u201c_blank\u201d\" rel=\"\u201cnofollow\u201d noopener\">Telegram<\/a> \u2014 news on cryptocurrencies, rates and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Galaxy Digital founder Mike Novogratz offered Peter Schiff, a gold advocate and Bitcoin sceptic, a $1 million bet on Bitcoin&#8217;s price.<\/p>\n","protected":false},"author":1,"featured_media":56411,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1303,1298],"class_list":["post-56410","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-mike-novogratz","tag-peter-schiff"],"aioseo_notices":[],"amp_enabled":true,"views":"32","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/56410","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=56410"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/56410\/revisions"}],"predecessor-version":[{"id":56412,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/56410\/revisions\/56412"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/56411"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=56410"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=56410"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=56410"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}