Bitcoin is like ‘digital gold’ and won’t be used the same as a traditional currency in at least 5 years, billionaire investor Mike Novogratz says

Billionaire investor Michael Novogratz. Bitcoin is a store of value, like "digital gold," and will unlikely be used as traditional currency for the next five years, the former Goldman Sachs partner and hedge fund manager Mike Novogratz told Bloomberg.

The Bitcoin bull expects the digital currency’s price to keep rising as more people pile into the idea of adding it to their portfolios.

He expects several banks and credit-card companies to catch up to PayPal’s recent decision to allow customers to transact in cryptocurrencies.

"It’s no longer a debate if crypto is a thing, if Bitcoin is an asset, if the blockchain is going to be part of the financial infrastructure," Novogratz said. "It’s not ‘if’, it’s ‘when’, and so every single company has to have a plan now." Bitcoin is like "digital gold" and won’t be used in the same way as traditional currency for at least the […]

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