Novogratz says bitcoin, different cryptocurrencies a fraction of world wealth
Billionaire bitcoin bull Mike Novogratz stated Wednesday that the cryptocurrency trade stays in its early days, as he predicted the wealth it generates will proceed to proliferate within the years forward.
“Proper now, whole crypto wealth is roughly $2 trillion, in order that’s one half of 1% of all wealth,” Novogratz stated on CNBC’s “Squawk Box.” “For those who do not suppose within the subsequent two to a few years that may be 2% to three%, you are not listening to the traits.”
The complete market capitalization of cryptocurrencies is a bit over $2 trillion as of Wednesday, in line with information compiled by CoinMarketCap.com. Bitcoin — which was trading above $63,000 per coin Wednesday — is chargeable for greater than half of crypto’s market worth. Bitcoin has been on a tear because the fall, having been priced under $11,000 as just lately as October.
“The quantity of development that we will see in our house is…