Michael Novogratz: "Bitcoin is becoming the standard for moving value on the Internet" – Bits Media

Cryptocurrency enthusiast and Galaxy Digital CEO Michael Novogratz believes, that there is nothing wrong with the fall in the bitcoin rate and this is just a "stress relief".

In an interview
Novogratz noted with Bloomberg, that the cryptocurrency market is still dominated by retail investors. They often take market falls too harshly and nervously., but bitcoin is an extremely volatile asset. And the fall in cryptocurrency rates 7 September has become a common "stress relief".

“People see, what are these companies, how Visa and Amazon are eyeing cryptocurrencies. Investors understand, that bitcoin is no longer just an asset to hedge inflation and currency risks. Now it is becoming a real Internet for moving wealth. ", - says Michael Novogratz.

Many investors have high expectations and panic, when the bitcoin rate suddenly decreases. Fall of the market 7 September was "just the release of excess pressure from the cylinder". It is worth noting, that after falling from $53 000 bitcoin rate fixed in the area $46 000, but 8 September briefly dropped to $ 43,000.

Recall, that at the end of August the Visa payment system bought
collectible token from the CryptoPunks series. We are talking about NFT CryptoPunks # 7610, its cost was approximately $150 000.