Billionaire investor Mike Novogratz shared his “two satoshis,” a derivative term that better fits the cryptocurrency patois, on the topic of Bitcoin and the currency’s purpose in the investment game. According to Novogratz, Bitcoin is nothing short of “digital gold,” a claim that bolds well for the asset, but certainly doesn’t solve its value correlation issues.
In delivering his outlook on Bitcoin for Bloomberg last Friday, Novogratz confirmed that the asset is not likely to be used as a “transactional currency” within the next five years, but rather to allow investors to store wealth.
There has been a divide in the blockchain community as to who is interested in owning Bitcoin. On the one hand, there are the whales that hold large swathes of the public ledger and control supplies as vast as 10,000 or even 100,000 units.