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Ray Dalio and Elon Musk Endorse Bitcoin, BTC Is Store of Value: Mike Novogratz

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Fri, 01/29/2021 - 12:29
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Yuri Molchan
After billionaire Ray Dalio and Tesla CEO Elon Musk have endorsed Bitcoin, former Goldman Sachs manager Mike Novogratz has become even more positive on BTC
Ray Dalio and Elon Musk Endorse Bitcoin, BTC Is Store of Value: Mike Novogratz
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Galaxy Digital CEO and famous Bitcoin lover Mike Novogratz has taken to Twitter to remind the community that billionaire Ray Dalio and the world's richest man, Elon Musk, have both endorsed Bitcoin recentlywithin approximately 24 hours of one another.

This has made Novogratz even more convinced that Bitcoin is a store of value. Another major Bitcoin influencer believes that Tesla and/or SpaceX may soon add BTC to their balance sheets.

Mike Novogratz is bullish, so are Dalio and Musk

The Galaxy Digital CEO mentioned Ray Dalio, who tweeted that he "now greatly admires Bitcoin" after earlier doubting it, after asking to be corrected if he was wrong and after slamming the flagship cryptocurrency during the World Economic Forum in Davos last year.

Then, earlier today, Tesla CEO Elon Musk chose "Bitcoin" as the only word in his Twitter bio line, endorsing it and pushing BTC immediately from the $32,000 area up to $37,000, according to CoinMarketCap.

After this, an early investor in Bitcoin and Ethereum, Mike Novogratz, again shared his view that Bitcoin is a store of value. "All stores of value are belief systems," he added as if explaining why one word from one man (a very influential one notwithstanding) managed to push Bitcoin up almost 20 percent in less than an hour.

Another prominent figure in the business and crypto world, who has also added "Bitcoin" as the only word in his Twitter bio, is Twitter CEO, Jack Dorsey.

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Elon Musk's tweet brought a storm of comments and discussions as to where this may take Bitcoin and other crypto.

Related
Dalio Caves: Billionaire Hedge Fund Manager "Greatly Admires" Bitcoin

Will Tesla and/or SpaceX now add Bitcoin to their balance sheets?

Musk's tweet has raised numerous eyebrows, with the people attached to those eyebrows assuming that, in the near future, the companies he runsTesla and SpaceXare likely to add Bitcoin to their balance sheets as a reserve currency.

In particular, two partners at Morgan Creek DigitalAnthony Pompliano and Jason Williams, have shared this view on their Twitter handles.

Entrepreneur and crypto podcaster Anthony Pompliano (aka Pomp) reckons that adding Bitcoin to the balance sheet of Musk-run companies is now just a matter of time.

Tesla and SpaceX adding Bitcoin to their balance sheet is now inevitable.

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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.