Bitcoin

According to Michael Novogratz, founder and CEO of Galaxy Digital, the United States is on the verge of a credit crunch, making this the ideal time to purchase gold, silver, and Bitcoin for $24,465 each.In an interview with CNBC, Novogratz predicted that there will be a credit constraint both domestically and internationally. You should own positions in gold, silver, and bitcoin, he suggested.On March 15, Novogratz said on CNBC's Squawk Box that since banks normally rebuild capital by lending less, a credit crisis is soon to come and that signs like the commodities market are already pointing to a recession.This month, the U.S. banking sector saw instability when Silvergate Bank, Signature Bank, and Silicon Valley Bank all failed in the same week. The outlook for the U.S. banking system was lowered by Moody's to "negative."The Federal Reserve would "want to conduct a dovish rise, just for credibility's sale," according to Novogratz, but doing so would be a "major policy blunder," he said in an interview with CNBC.Novogratz also expressed optimism for cryptocurrencies, saying: "If there was ever a time to be in Bitcoin and crypto, this is why it was created, in that governments print too much money whenever the pain gets too great, and we're seeing that." Novogratz also predicted difficult times for the American economy. As Silicon Valley Bank failed last week, the price of bitcoin dropped, but on March 14 it managed to hit fresh 2023 highs of $26,514.72, according to CoinMarketCap.

US Credit Crunch Means it’s Time to Buy Gold and Bitcoin: Novogratz

ItsBitcoinWorld

Other articles published on Mar 16, 2023

USDC Operations Are Redeemed Post Circle Backlog Clearance

🗒 Daily Newsletter | Thursday, Mar 16, 2023

What Is Transaction Fee & How to Adjust It in OneArt?

Coinbase Announces Delisting of 6 Altcoins Post Evaluations

Ver. 0.2.19 Patch Notes — Replication SPEEDUP & Armor on Marketplace!

Web3 Innovations Like GameFi, DeSci, DeFi, ReFi Are Solving Real World Problems

Join our free newsletter for daily crypto updates!