on CNBC’s Squawk Box on March 15, Novogratz noted that banks typically rebuild capital by lending less, meaning that a credit crunch is imminent, noting that indicators like the commodities market are already pointing to a recession.this month, with Silvergate Bank, Signature Bank, and Silicon Valley Bank all collapsing in the same week. Moody's downgraded the U.S. banking system outlook to"negative.
Alongside his prediction of tough times for the U.S. economy, Novogratz expressed a bullish sentiment for crypto, saying: “If there was ever a time to be in bitcoin and crypto, this is why it was created, in that governments print too much money whenever the pain gets too great, and we’re seeing that.”reach new 2023 highsLooks like Bitcoin is moving on from its risk asset days. As more and more people begin to understand its fundamental value case, the market is slowly turning to Bitcoin as a digital form of gold.
Does PAXG count ?
Gold, silver, and Bitcoin, are the three you want to get in your hands in these turbulent times, according to Galaxy Digital founder and CEO Michael Novogratz.
Bitcoin? I take it you've been off-planet for the last year or so? .
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