CEO of Galaxy Digital: Libra and Digital Renminbi Will Not Be a Threat to Bitcoin

Michael Novogratz, CEO of US billionaire and encryption investment bank Galaxy Digital, said in an interview that Zuckerberg correctly emphasized China’s continued innovation in building its own cryptocurrency and called Libra and renminbi-backed cryptocurrency. Neither will threaten the status of Bitcoin. He said that Libra and the digital renminbi are both new forms of currency and payment systems, while bitcoin is gold. In this context, Novogratz mentioned that “gold does not pose a threat to the US dollar, and Bitcoin does not pose a threat to these payment currencies.