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Bitcoin is like 'digital gold' and won't be used the same as a traditional currency in at least 5 years, billionaire investor Mike Novogratz says | Currency News | Financial and Business News | Markets Insider

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Bitcoin is like 'digital gold' and won't be used the same as a traditional currency in at least 5 years, billionaire investor Mike Novogratz says

"I don't think Bitcoin is going to be used as a transactional currency anytime in the next five years," the bitcoin bull said in an interview with Bloomberg TV and Radio."Bitcoin is being used as a store of value."

Novogratz, who has long favored the widespread adoption of digital currencies, believes that while Bitcoin could see further upside, it will not be used for daily transactions anytime soon.GOLDMAN SACHS: Buy these 13 unloved vaccine stocks that have the potential to spike on positive treatment updates

Bitcoin has surged over 14% in the last week, hitting $13,169 on Monday. The rally was sharply driven by US digital payments firmThe size of the cryptocurrency market has grown to around $397.9 billion, from around $195 billion at the start of the year, according to

 

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you forget to tell us about assets support of this 'digital gold'

nicoleperlroth No, BTC is not 'digital gold'. There are massive, marked differences between the two:

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