October 3, 2018
There are a few billionaires whose opinions on cryptocurrency are worth listening to, and Mike Novogratz is one of them. Yesterday, CNBC reported Mike Novogratz recent comments on Coinbase’s recent negotiations with investment firm Tiger Global. CNBC reported that the deal would value Coinbase at $8 billion. “The tulip news flies in the face of bitcoin being “tulip-mania.” said Novogratz, a former Goldman Sachs macro trader.
People who equate bitcoin with tulip mania likely have a limited, surface level understanding of blockchain technology and how it solves the Byzantine Generals problem of distributed consensus. They also lack the capability of envisioning use cases that will emerge within the next decade; uses that have the capacity to transform the lives of impoverished individuals globally.