{"id":11841,"date":"2024-11-21T05:30:39","date_gmt":"2024-11-21T05:30:39","guid":{"rendered":"https:\/\/cryptd.in\/countries-are-already-buying-bitcoin-in-huge-volumes-says-novogratz\/"},"modified":"2024-11-21T05:30:39","modified_gmt":"2024-11-21T05:30:39","slug":"countries-are-already-buying-bitcoin-in-huge-volumes-says-novogratz","status":"publish","type":"post","link":"https:\/\/cryptd.in\/cs\/countries-are-already-buying-bitcoin-in-huge-volumes-says-novogratz\/","title":{"rendered":"Countries Are Already Buying Bitcoin \u2018In Huge Volumes\u2019, Says Novogratz"},"content":{"rendered":"

Mike Novogratz, the founder and CEO of Galaxy Digital Holdings\u2014a leading crypto investment firm listed on the Toronto Stock Exchange\u2014has signaled a significant shift in the global adoption of Bitcoin. In a post on Tuesday via X, Novogratz declared that countries are already purchasing Bitcoin.<\/p>\n

Nation-State Bitcoin FOMO Is Real<\/h2>\n

\u201cCountries are already buying BTC in huge volumes\u2014these are massive pools of capital entering the market. We\u2019re witnessing global adoption at scale and the next rally could be massive. Buckle up. Caught up last week with Bloomberg TV, he stated<\/a> via X.<\/p>\n

In the Bloomberg interview, Novogratz elaborated on the unprecedented interest from sovereign entities. He mentioned a close associate\u2014the person who introduced him to BTC in 2013\u2014who is currently in the Middle East. \u201cHe\u2019s never seen anything like it,\u201d Novogratz said. \u201cHe\u2019s convincing more people to buy Bitcoin in the three days he\u2019s been there than any time in his whole career, and they\u2019re huge pools of capital. And so we\u2019re seeing something globally.\u201d<\/p>\n

Novogratz noted that when former President Donald Trump advocated<\/a> in Nashville that he intended to be a \u201ccrypto president\u201d and a \u201cBitcoin president,\u201d it caught the attention of international leaders. \u201cOther leaders heard that,\u201d he remarked, suggesting that geopolitical factors could contribute to an \u201camazing rally\u201d in the Bitcoin market.<\/p>\n

When questioned about the likelihood of the United States establishing a Strategic BTC Reserve<\/a> under a Trump presidency, Novogratz remained cautious. \u201cI still think it\u2019s a low probability,\u201d he stated. He cited the complexities of US legislative processes, emphasizing that while the executive branch or the House might show enthusiasm, the Senate often urges restraint. \u201cThat\u2019s the role of the Senate,\u201d he said, pointing out that Republicans do not hold a 60-seat majority necessary to push through such initiatives unilaterally.<\/p>\n

Nonetheless, Novogratz acknowledged the potential benefits of the US embracing Bitcoin at a strategic level. \u201cIt would be very smart for the United States to take the Bitcoin they have and maybe add some to it,\u201d he suggested, adding that it would signal a commitment to being a \u201ctechnology-first country, a crypto and digital asset-first country.\u201d While he doesn\u2019t believe the US dollar requires backing by Bitcoin, he admitted that if a Strategic Bitcoin Reserve were established, \u201cBitcoin heads to $500,000.\u201d<\/p>\n

He added: \u201cIf it happens in the short term without a Strategic Bitcoin Reserve, it\u2019s going to mean six, seven, eight years,\u201d Novogratz cautioned. \u201cThen it\u2019s just a scramble to get the hot commodity.\u201d He expressed concerns that such a scenario could be indicative of hyperinflation, which historically leads to societal instability. \u201cIn every country that experiences hyperinflation, the results are really crappy,\u201d he noted.<\/p>\n

Discussing Bitcoin\u2019s potential to rival gold as a store of value<\/a>, Novogratz highlighted a generational shift in investment preferences. \u201cThe total market cap of gold is like $16 trillion,\u201d he explained, which translates to approximately $800,000 per BTC if it were to reach parity. \u201cWhen does Bitcoin become gold?\u201d he asked rhetorically. Novogratz, who is turning 60 next week, admitted he still owns gold, calling himself \u201can old guy.\u201d<\/p>\n

However, he pointed out that younger generations are less inclined to invest in gold. \u201cForty-year-olds own no gold. Thirty-year-olds own none,\u201d he observed. \u201cAs we see this generational shift, Bitcoin should match gold within five or ten years, and that gets you to $800,000.\u201d<\/p>\n

At press time, BTC traded at $93,000.<\/p>\n

\"Bitcoin<\/p>","protected":false},"excerpt":{"rendered":"

Mike Novogratz, the founder and CEO of Galaxy Digital Holdings\u2014a leading crypto investment firm listed on the Toronto Stock Exchange\u2014has signaled a significant shift in the global adoption of Bitcoin. In a post on Tuesday via X, Novogratz declared that countries are already purchasing Bitcoin. Nation-State Bitcoin FOMO Is Real \u201cCountries are already buying BTC […]<\/p>\n","protected":false},"author":0,"featured_media":11842,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-11841","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-feeds"],"yoast_head":"\nCountries Are Already Buying Bitcoin \u2018In Huge Volumes\u2019, Says Novogratz - cryptd.in<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptd.in\/cs\/countries-are-already-buying-bitcoin-in-huge-volumes-says-novogratz\/\" \/>\n<meta property=\"og:locale\" content=\"cs_CZ\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Countries Are Already Buying Bitcoin \u2018In Huge Volumes\u2019, Says Novogratz - cryptd.in\" \/>\n<meta property=\"og:description\" content=\"Mike Novogratz, the founder and CEO of Galaxy Digital Holdings\u2014a leading crypto investment firm listed on the Toronto Stock Exchange\u2014has signaled a significant shift in the global adoption of Bitcoin. In a post on Tuesday via X, Novogratz declared that countries are already purchasing Bitcoin. Nation-State Bitcoin FOMO Is Real \u201cCountries are already buying BTC […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptd.in\/cs\/countries-are-already-buying-bitcoin-in-huge-volumes-says-novogratz\/\" \/>\n<meta property=\"og:site_name\" content=\"cryptd.in\" \/>\n<meta property=\"article:published_time\" content=\"2024-11-21T05:30:39+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Odhadovan\u00e1 doba \u010dten\u00ed\" \/>\n\t<meta name=\"twitter:data1\" content=\"3 minuty\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/cryptd.in\\\/countries-are-already-buying-bitcoin-in-huge-volumes-says-novogratz\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/cryptd.in\\\/countries-are-already-buying-bitcoin-in-huge-volumes-says-novogratz\\\/\"},\"author\":{\"name\":\"\",\"@id\":\"\"},\"headline\":\"Countries Are Already Buying Bitcoin \u2018In Huge Volumes\u2019, Says Novogratz\",\"datePublished\":\"2024-11-21T05:30:39+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/cryptd.in\\\/countries-are-already-buying-bitcoin-in-huge-volumes-says-novogratz\\\/\"},\"wordCount\":581,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/cryptd.in\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/cryptd.in\\\/countries-are-already-buying-bitcoin-in-huge-volumes-says-novogratz\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cryptd.in\\\/wp-content\\\/uploads\\\/2024\\\/11\\\/Screenshot-2024-11-20-120825-RK0Xt5.png\",\"articleSection\":[\"Feeds\"],\"inLanguage\":\"cs\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/cryptd.in\\\/countries-are-already-buying-bitcoin-in-huge-volumes-says-novogratz\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/cryptd.in\\\/countries-are-already-buying-bitcoin-in-huge-volumes-says-novogratz\\\/\",\"url\":\"https:\\\/\\\/cryptd.in\\\/countries-are-already-buying-bitcoin-in-huge-volumes-says-novogratz\\\/\",\"name\":\"Countries Are Already Buying Bitcoin \u2018In Huge Volumes\u2019, Says Novogratz - cryptd.in\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/cryptd.in\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/cryptd.in\\\/countries-are-already-buying-bitcoin-in-huge-volumes-says-novogratz\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/cryptd.in\\\/countries-are-already-buying-bitcoin-in-huge-volumes-says-novogratz\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cryptd.in\\\/wp-content\\\/uploads\\\/2024\\\/11\\\/Screenshot-2024-11-20-120825-RK0Xt5.png\",\"datePublished\":\"2024-11-21T05:30:39+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/cryptd.in\\\/countries-are-already-buying-bitcoin-in-huge-volumes-says-novogratz\\\/#breadcrumb\"},\"inLanguage\":\"cs\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/cryptd.in\\\/countries-are-already-buying-bitcoin-in-huge-volumes-says-novogratz\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"cs\",\"@id\":\"https:\\\/\\\/cryptd.in\\\/countries-are-already-buying-bitcoin-in-huge-volumes-says-novogratz\\\/#primaryimage\",\"url\":\"https:\\\/\\\/cryptd.in\\\/wp-content\\\/uploads\\\/2024\\\/11\\\/Screenshot-2024-11-20-120825-RK0Xt5.png\",\"contentUrl\":\"https:\\\/\\\/cryptd.in\\\/wp-content\\\/uploads\\\/2024\\\/11\\\/Screenshot-2024-11-20-120825-RK0Xt5.png\",\"width\":460,\"height\":309},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/cryptd.in\\\/countries-are-already-buying-bitcoin-in-huge-volumes-says-novogratz\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/cryptd.in\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Countries Are Already Buying Bitcoin \u2018In Huge Volumes\u2019, Says Novogratz\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/cryptd.in\\\/#website\",\"url\":\"https:\\\/\\\/cryptd.in\\\/\",\"name\":\"cryptd.in\",\"description\":\"Alternative LinkedIn for Crypto-friendly Talents\",\"publisher\":{\"@id\":\"https:\\\/\\\/cryptd.in\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/cryptd.in\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"cs\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/cryptd.in\\\/#organization\",\"name\":\"cryptd.in\",\"url\":\"https:\\\/\\\/cryptd.in\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"cs\",\"@id\":\"https:\\\/\\\/cryptd.in\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/cryptd.in\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/cryptdin_logo.jpg\",\"contentUrl\":\"https:\\\/\\\/cryptd.in\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/cryptdin_logo.jpg\",\"width\":900,\"height\":900,\"caption\":\"cryptd.in\"},\"image\":{\"@id\":\"https:\\\/\\\/cryptd.in\\\/#\\\/schema\\\/logo\\\/image\\\/\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Countries Are Already Buying Bitcoin \u2018In Huge Volumes\u2019, Says Novogratz - cryptd.in","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/cryptd.in\/cs\/countries-are-already-buying-bitcoin-in-huge-volumes-says-novogratz\/","og_locale":"cs_CZ","og_type":"article","og_title":"Countries Are Already Buying Bitcoin \u2018In Huge Volumes\u2019, Says Novogratz - cryptd.in","og_description":"Mike Novogratz, the founder and CEO of Galaxy Digital Holdings\u2014a leading crypto investment firm listed on the Toronto Stock Exchange\u2014has signaled a significant shift in the global adoption of Bitcoin. In a post on Tuesday via X, Novogratz declared that countries are already purchasing Bitcoin. Nation-State Bitcoin FOMO Is Real \u201cCountries are already buying BTC […]","og_url":"https:\/\/cryptd.in\/cs\/countries-are-already-buying-bitcoin-in-huge-volumes-says-novogratz\/","og_site_name":"cryptd.in","article_published_time":"2024-11-21T05:30:39+00:00","twitter_card":"summary_large_image","twitter_misc":{"Odhadovan\u00e1 doba \u010dten\u00ed":"3 minuty"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/cryptd.in\/countries-are-already-buying-bitcoin-in-huge-volumes-says-novogratz\/#article","isPartOf":{"@id":"https:\/\/cryptd.in\/countries-are-already-buying-bitcoin-in-huge-volumes-says-novogratz\/"},"author":{"name":"","@id":""},"headline":"Countries Are Already Buying Bitcoin \u2018In Huge Volumes\u2019, Says Novogratz","datePublished":"2024-11-21T05:30:39+00:00","mainEntityOfPage":{"@id":"https:\/\/cryptd.in\/countries-are-already-buying-bitcoin-in-huge-volumes-says-novogratz\/"},"wordCount":581,"commentCount":0,"publisher":{"@id":"https:\/\/cryptd.in\/#organization"},"image":{"@id":"https:\/\/cryptd.in\/countries-are-already-buying-bitcoin-in-huge-volumes-says-novogratz\/#primaryimage"},"thumbnailUrl":"https:\/\/cryptd.in\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-20-120825-RK0Xt5.png","articleSection":["Feeds"],"inLanguage":"cs","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/cryptd.in\/countries-are-already-buying-bitcoin-in-huge-volumes-says-novogratz\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/cryptd.in\/countries-are-already-buying-bitcoin-in-huge-volumes-says-novogratz\/","url":"https:\/\/cryptd.in\/countries-are-already-buying-bitcoin-in-huge-volumes-says-novogratz\/","name":"Countries Are Already Buying Bitcoin \u2018In Huge Volumes\u2019, Says Novogratz - cryptd.in","isPartOf":{"@id":"https:\/\/cryptd.in\/#website"},"primaryImageOfPage":{"@id":"https:\/\/cryptd.in\/countries-are-already-buying-bitcoin-in-huge-volumes-says-novogratz\/#primaryimage"},"image":{"@id":"https:\/\/cryptd.in\/countries-are-already-buying-bitcoin-in-huge-volumes-says-novogratz\/#primaryimage"},"thumbnailUrl":"https:\/\/cryptd.in\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-20-120825-RK0Xt5.png","datePublished":"2024-11-21T05:30:39+00:00","breadcrumb":{"@id":"https:\/\/cryptd.in\/countries-are-already-buying-bitcoin-in-huge-volumes-says-novogratz\/#breadcrumb"},"inLanguage":"cs","potentialAction":[{"@type":"ReadAction","target":["https:\/\/cryptd.in\/countries-are-already-buying-bitcoin-in-huge-volumes-says-novogratz\/"]}]},{"@type":"ImageObject","inLanguage":"cs","@id":"https:\/\/cryptd.in\/countries-are-already-buying-bitcoin-in-huge-volumes-says-novogratz\/#primaryimage","url":"https:\/\/cryptd.in\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-20-120825-RK0Xt5.png","contentUrl":"https:\/\/cryptd.in\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-20-120825-RK0Xt5.png","width":460,"height":309},{"@type":"BreadcrumbList","@id":"https:\/\/cryptd.in\/countries-are-already-buying-bitcoin-in-huge-volumes-says-novogratz\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/cryptd.in\/"},{"@type":"ListItem","position":2,"name":"Countries Are Already Buying Bitcoin \u2018In Huge Volumes\u2019, Says Novogratz"}]},{"@type":"WebSite","@id":"https:\/\/cryptd.in\/#website","url":"https:\/\/cryptd.in\/","name":"cryptd.in","description":"Alternativn\u00ed LinkedIn pro talenty p\u0159\u00e1telsk\u00e9 ke kryptom\u011bn\u00e1m","publisher":{"@id":"https:\/\/cryptd.in\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/cryptd.in\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"cs"},{"@type":"Organization","@id":"https:\/\/cryptd.in\/#organization","name":"cryptd.in","url":"https:\/\/cryptd.in\/","logo":{"@type":"ImageObject","inLanguage":"cs","@id":"https:\/\/cryptd.in\/#\/schema\/logo\/image\/","url":"https:\/\/cryptd.in\/wp-content\/uploads\/2024\/05\/cryptdin_logo.jpg","contentUrl":"https:\/\/cryptd.in\/wp-content\/uploads\/2024\/05\/cryptdin_logo.jpg","width":900,"height":900,"caption":"cryptd.in"},"image":{"@id":"https:\/\/cryptd.in\/#\/schema\/logo\/image\/"}}]}},"_links":{"self":[{"href":"https:\/\/cryptd.in\/cs\/wp-json\/wp\/v2\/posts\/11841","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptd.in\/cs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptd.in\/cs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptd.in\/cs\/wp-json\/wp\/v2\/comments?post=11841"}],"version-history":[{"count":0,"href":"https:\/\/cryptd.in\/cs\/wp-json\/wp\/v2\/posts\/11841\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptd.in\/cs\/wp-json\/wp\/v2\/media\/11842"}],"wp:attachment":[{"href":"https:\/\/cryptd.in\/cs\/wp-json\/wp\/v2\/media?parent=11841"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptd.in\/cs\/wp-json\/wp\/v2\/categories?post=11841"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptd.in\/cs\/wp-json\/wp\/v2\/tags?post=11841"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}