The biggest cryptocurrency outperformed its closest peers again in the digital market on Thursday and has now rebounded more than 90 per cent from its trough last December.
“The only store of value in the space right now is Bitcoin,” said Michael Novogratz, co-founder and chief executive at Galaxy Investment Partners LLC. “It doesn’t need to change — it’s gold,” he said in an interview on Bloomberg Television from a conference in Las Vegas. Bitcoin’s nine-weekday winning streak is the longest since May 2017. It shrugged off a brief sell-off Wednesday after Binance, one of the largest cryptocurrency exchanges in the world, said hackers withdrew 7,000 Bitcoins worth about US$40 million at the time.
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