Mike Novogratz Compares Bitcoin Nerds to Tolkien’s Orcs as Age of Fiat Lovers Is Over

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Wed, 04/29/2020 - 12:14
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Yuri Molchan
The Galaxy Digital CEO compares Bitcoin lovers to Tolkien’s orcs, the ‘new race’, when commenting on a tweet by Gold Bullion International co-founder
Mike Novogratz Compares Bitcoin Nerds to Tolkien’s Orcs as Age of Fiat Lovers Is Over
Cover image via www.bloomberg.com
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In a recent tweet, Dan Tapiero, a macro investor, Bitcoin and gold holder (and a Gold Bullion International co-founder), has stated that over the past one hundred and fifty years, the human ability to understand money has not improved. He predicted that humanity will take a long time to understand what Bitcoin truly is and how it can be used as new money to change the global economy.

In a picture, an overweight person with fiat banknotes in his fists has a forbidding look and the caption says “Repudiation”. The man is holding unbacked fiat currencies.

Are Bitcoin lovers... orcs?

The hedge fund guru and Galaxy Digital CEO Mike Novogratz seems to be seconding this thought by posting a YouTube video (an extract from the ‘Lord of the Rings’ movie) where an orc says: “The age of Men is over. The time of the Orc has come”.

It seems that Novogratz is comparing Bitcoin nerds to the new race of orcs described by Tolkien in the ‘Lord of the Rings’ trilogy. However, this comparison has raised questions, as everyone remembers things did not end well for orcs.

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Bitcoin - $250,000 in ten years

Meanwhile, Dan Tapiero speaks of massive Bitcoin appreciation over the next ten years. He states that, since the market value would be at least $450 bln, a forecast of Bitcoin hitting $25,000 is too conservative. He says:

“I see over $250,000 in the next 10 years”

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.