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Bitcoin Bull Mike Novogratz Reveals Hidden Value of Cryptocurrency

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Thu, 14/11/2024 - 15:12
Bitcoin Bull Mike Novogratz Reveals Hidden Value of Cryptocurrency
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Reflecting on a recent dinner with some of the early Bitcoiners, Galaxy Digital CEO Mike Novogratz shared a fresh perspective on the cryptocurrency and its often overlooked aspect that he believes adds more value to BTC

Describing the atmosphere at the meeting, Novogratz pointed out the importance of a unique "social contract" that he believes goes beyond typical financial motivations. This social element, the veteran investor suggested, is a crucial part of Bitcoin's appeal and resilience, built on the shared goals and dedication of its long-standing community.

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Thus, according to Mike Novogratz, it is not just the decentralized structure or scarcity that gives Bitcoin (BTC) value. Rather, he sees the community itself - the individuals who have dedicated their time, energy and even resources over the years - as essential to the cryptocurrency's foundation.

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He believes that it is this social fabric that keeps Bitcoin moving forward, and that a lot of people have done a lot of work, often behind the scenes, to make BTC what it is today. At the end of the day, it is the people behind Bitcoin as a collective force that not only maintains Bitcoin's current value but also strengthens it through belief and shared purpose.

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This call to action to expand Bitcoin's influence shows that Novogratz sees its value as tied to its reputation as a movement, not just a digital asset. He believes this shows how the cryptocurrency has evolved from being just a currency to a vibrant, active community with a clear purpose.

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