Michael Novogratz, who predicted BTC to hit $20,000 by the end of 2020, advises investors to own more gold than Bitcoin.
Michael Novogratz, one of the biggest Bitcoin (BTC) bulls in the world, does not recommend investors to put the majority of their funds into Bitcoin.
Although Novogratz is confident that Bitcoin “way outperforms” the precious metal, it is still safer to buy more gold than Bitcoin due to the cryptocurrency’s highly volatile nature.
Bitcoin is still “early in the adoption cycle,” Novogratz says
“My sense is that Bitcoin way outperforms gold, but I would tell people to have a lot less Bitcoin than they have gold, just because of the volatility,” Novogratz said during CNBC’s Fast Money on July 8.
According to Novogratz, Bitcoin is still “early in the adoption cycle,” which means that the cryptocurrency is still hard to obtain.