Billionaire Mike Novogratz: The valuable thing is that the bubble encryption revolution is real

According to CCN, the encryption market may not grow as fast as many people hope, and there have been some unexpected twists and turns. Despite this, today's blockchain industry is more mature than it was two years ago. Some of the foam has been removed and a healthier, higher level ecosystem is emerging.

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In December 2017, Bitcoin reached a historical high, when it was a different world. At Reuters' 2020 Global Investment Outlook Summit, Mike Novogratz, head of billionaire and Galaxy Digital, said that even he became "too greedy" and involved. However, since then, investors have had to return to reality.

2017 is a truly emotional, speculative and crazy market. At that time, people bought heavily and all kinds of tokens rose together. This is an emotional catharsis driven by individual investors.

The market has changed now, but it does not mean that the essential purpose of Bitcoin has changed. Instead, Mike Novogratz said that reality has slightly slowed people's ambitions. The former Wall Street hedge fund manager seems to think that bitcoin is still in its early stages, "bitcoin has just begun."

There is a bubble in what really matters, and the encryption revolution is real. This is people's desire for privacy and the desire for financial democratization. At the same time, this is a desire for efficiency and a subversion of the old business that charges people high rents.

Novogratz is not the only one who believes Bitcoin has a revolutionary impact on the world. Adamant Research's new report, titled "Bitcoin Reform," compares the 21st century phenomenon of "bitcoin, encryption assets, the Internet, and the millennial generation" to the European revolutionary movement and printing press inventions of the 16th and 17th centuries. Adamant Research concluded through analysis that the new form of ICO, Initial Exchange Offerings, will continue to exist. It also predicts:

  1. Savings, lending and underwriting will be the main drivers of Bitcoin;
  2. Bitcoin banking can replace offshore banking;
  3. Bitcoin holders may accelerate the arrival of a revolution in thought.

According to reports, Novogratz's encryption bank, Galaxy Digital, is preparing a new bitcoin fund to help investors easily access cryptocurrencies.