Prominent Bitcoin bull Mike Novogratz, who recently compared BTC nerds to Tolkien’s orcs, urges investors to grab BTC and gold
- Deutsche Bank introduces a negative interest rate
- Bitcoin goes back under $9,000
Galaxy Digital CEO Mike Novogratz, who is a famous Bitcoin supporter and BTC investor, has shared another reason for purchasing Bitcoin and gold – they are safe haven assets, even though there are many who deprive BTC of that status.
This is not due to the current Bitcoin price skyrocketing to over $9,000. Mike Novogratz has shared an article about yet another ‘civilized’ country bringing down interest rates to the negative level amid the current financial crisis.
Deutsche Bank introduces a negative interest rate
Mike Novogratz retweeted an article shared by Jan Nieuwenhuijs, a gold analyst at Voimagold. He tweeted that the central bank of Germany is now introducing negative interest rates for deposits over 100,000 EUR.
Lyn Alden, founder of Lyn Alden Investment Strategy, points out in the comment thread that with this now introduced in Germany, expenses for holding gold and silver do not look so bad.
A Twitter user responded to her, saying that the only expense incurred while holding Bitcoin is simply a piece of paper to write down one’s seed phrase.
Earlier, Mike Novogratz made a joking comparability between Bitcoin nerds and orcs from Tolkien’s trilogy ‘The Lord of the Rings’, sharing a YouTube video, which says that the time of people is over and the period of the Orc has arrived.
Bitcoin goes again underneath $9,000
In the meantime, the flagship cryptocurrency has reversed and gone again under $9,000. On the time of writing, BTC is buying and selling at $8,870.
Right here’s what dealer @TradySlim has to say about this:
“Mark my words, bullas. You know I am among your ranks, but we are not going anywhere until we come down to test $8k. Let me save you some pain. $BTC #bitcoin”
Dealer Scott Melker has tweeted:
“Bitcoin was the same price when I woke up as when I went to sleep, but somewhere in between people started losing their minds. I didn’t even know it went to $9400.”