{"id":75678,"date":"2023-03-16T15:51:55","date_gmt":"2023-03-16T13:51:55","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=75678"},"modified":"2025-09-10T13:00:09","modified_gmt":"2025-09-10T10:00:09","slug":"novogratz-says-now-is-the-best-time-to-buy-bitcoin","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/novogratz-says-now-is-the-best-time-to-buy-bitcoin\/","title":{"rendered":"Novogratz says now is the best time to buy Bitcoin"},"content":{"rendered":"<p>The founder and chief executive of Galaxy Digital <a href=\"https:\/\/u1f987.com\/en\/news\/who-is-mike-novogratz\">Mike Novogratz<\/a> suggested that now is the best time to buy Bitcoin as a hedge against economic headwinds.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">&#8220;The oil market is telling you we&#8217;re heading into a recession. Powell should pause and will be cutting rates sooner than we think,&#8221; says <a href=\"https:\/\/twitter.com\/novogratz?ref_src=twsrc%5Etfw\">@novogratz<\/a>. &#8220;If there was ever a time to be in <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> and <a href=\"https:\/\/twitter.com\/hashtag\/crypto?src=hash&#038;ref_src=twsrc%5Etfw\">#crypto<\/a>, this is why it was created.&#8221; <a href=\"https:\/\/t.co\/5gIvq1hWBO\">pic.twitter.com\/5gIvq1hWBO<\/a><\/p>\n<p>\u2014 Squawk Box (@SquawkCNBC) <a href=\"https:\/\/twitter.com\/SquawkCNBC\/status\/1635985499927003137?ref_src=twsrc%5Etfw\">March 15, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In an interview with CNBC, the billionaire compared the current market conditions with December 2018, when the U.S. Federal Reserve&#8217;s rate hikes led to a slowdown in business activity.<\/p>\n<p>According to Novo, recent declines in commodity markets such as oil indicate that the actions of the U.S. central bank are bringing the world closer to an economic recession and a credit crisis.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;If there was ever a time to be interested in Bitcoin and cryptocurrencies, it is now. This is what they were created for. Governments print too much money every time these problems worsen,&#8221; said the founder of Galaxy Digital.<\/p>\n<\/blockquote>\n<p>He also noted that interest in digital gold and other crypto-assets could be boosted by the emerging banking crisis in the United States. On March 10, the California Department of Financial Protection and Innovation <a href=\"https:\/\/u1f987.com\/en\/news\/venture-capital-investors-distance-themselves-from-silicon-valley-bank-amid-liquidity-concerns\">shut down Silicon Valley Bank<\/a> with assets of $209 billion and appointed the <span data-descr=\"Federal Deposit Insurance Corporation\" class=\"old_tooltip\">FDIC<\/span> as receiver. Banks friendly to cryptocurrency <a href=\"https:\/\/u1f987.com\/en\/news\/us-rescue-saves-svb-and-signature-bank-depositors-stablecoins-narrow-the-depegging\">Signature Bank<\/a> and <a href=\"https:\/\/u1f987.com\/en\/news\/silvergate-to-liquidate-silvergate-bank\">Silvergate Bank<\/a> were also placed into receivership or liquidated.<\/p>\n<p>Co-founder Tom Lee of Fundstrat also expressed a similar view. The expert believes that the Fed&#8217;s actions bode well for Bitcoin in the medium term.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">Tom Lee of <a href=\"https:\/\/twitter.com\/fundstrat?ref_src=twsrc%5Etfw\">@Fundstrat<\/a> gives us his reasons why he remains constructive in the intermediate term<a href=\"https:\/\/twitter.com\/hashtag\/inflation?src=hash&#038;ref_src=twsrc%5Etfw\">#inflation<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/fed?src=hash&#038;ref_src=twsrc%5Etfw\">#fed<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/powell?src=hash&#038;ref_src=twsrc%5Etfw\">#powell<\/a> <a href=\"https:\/\/t.co\/C66bAYDM1H\">pic.twitter.com\/C66bAYDM1H<\/a><\/p>\n<p>\u2014 CNBCOvertime (@CNBCOvertime) <a href=\"https:\/\/twitter.com\/CNBCOvertime\/status\/1635378104481792001?ref_src=twsrc%5Etfw\">March 13, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>On Tuesday, March 14, Bitcoin rose past the $26 000 mark. The move came in response to the <a href=\"https:\/\/u1f987.com\/en\/news\/u-s-inflation-broadly-met-expectations-bitcoin-rose\">consumer-price report<\/a> in the United States.<\/p>\n<p>Earlier in February, Novo described the odds of Bitcoin returning to the <a href=\"https:\/\/u1f987.com\/en\/news\/mike-novogratz-sees-bitcoin-at-30000-by-end-of-march\">$30 000<\/a> level by the end of March as &#8216;good&#8217;.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The founder and chief executive of Galaxy Digital Mike Novogratz suggested that now is the best time to buy Bitcoin as a hedge against economic problems.<\/p>\n","protected":false},"author":1,"featured_media":75679,"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":[1303,1138],"class_list":["post-75678","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-mike-novogratz","tag-opinions"],"aioseo_notices":[],"amp_enabled":true,"views":"23","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/75678","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=75678"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/75678\/revisions"}],"predecessor-version":[{"id":75680,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/75678\/revisions\/75680"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/75679"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=75678"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=75678"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=75678"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}