Mike Novogratz: Bitcoin [BTC] rally is due to Trump’s trade war

Bitcoin [BTC] investor and Billionaire, Mike Novogratz, thinks the recent Bitcoin rally is due to Trump’s trade war.  In a CNBC interview, Mike Novogratz said,

“I would say, there certainly feels to be Chinese money moving into this space, into crypto. Why did Bitcoin go from $4,000 to $8,000? Because of Facebook, because of Microsoft? I think it is because of this trade war, and because a lot of the selling was done.”

 

Mike Novogratz also adds that U.S is lacking behind the world in terms of cryptocurrencies and regulations. He points out despite the adoption of Security Tokens around the world, U.S. SEC has no regulations in place.

Mike Novogratz also believes that Bitcoin has proved itself to be a great store of value and is a direct competitor to gold.

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