Novogratz: “Time to Buy Gold and BTC”

Concern continues in global markets. The banking crisis in the USA spread to Europe. After the problems in banks, positive opinions about Bitcoin continue to increase. Billionaire investor Novogratz stated that it is the right time to buy Bitcoin.

Michael Novogratz, founder and CEO of Galaxy Digital, stated that the USA is heading towards a credit crisis and said, “Now is the time to buy gold, silver and Bitcoin.” Novogratz made assessments on the global economy in his statements to CNBC. “We will have a credit crisis in the US and globally,” Novogratz said. Stating that banks are rebuilding capital by lending less, Novogratz emphasized that it is likely that the interest policy will be reversed. Novogratz stated that a dovish increase by the Fed would be a major policy mistake.

The banking crisis in the USA started with the bankruptcy of Silicon Valley Bank (SVB). Following SVB, Signature Bank also joined the list. Before the two banks, it was announced that Silvergate Bank would be liquidated. It is stated that First Republic Bank is also at risk of bankruptcy. On the other hand, there are problems originating from Credit Suisse in Europe. Bitcoin was withdrawn to $19,500 as an initial reaction to SVB’s bankruptcy. With the statements of US institutions, the decline in interest rate expectations and the positive inflation figures, Bitcoin rose to $ 26,500.