Although Bitcoin and altcoin projects have not performed well in the last 24 hours, the comments of famous people in the cryptocurrency space are noteworthy. In this article, we will convey the predictions of three cryptocurrency billionaires for the market. Here are the details…
Morgan Stanley CEO: Cryptocurrencies are permanent
Morgan Stanley CEO James Gorman, who attended a Reuters conference in New York on Thursday, said he does not see cryptocurrencies as a passing fad. He believes cryptocurrencies are here to stay. At the same time, Gorman says he can’t put any real value on the startup. Gorman added that he often dislikes investing in things that have a wide variety of consequences.
Gorman said in September that crypto is “by definition” a speculative asset. He mentioned that he does not see this as a new form of storing value. At the time, Gorman confirmed that he did not own any cryptocurrency. He added that he was happy not to buy Bitcoin at $60,000. Morgan Stanley has invested millions of dollars in shares of the Grayscale Bitcoin Trust. It even owned more GBTC shares than Ark Invest by the end of 2021. cryptocoin.comAs we have also reported, in a recent report, the New York-based banking giant compared Bitcoin to Tesla.
David Gokhshtein: I prefer Ethereum over Bitcoin
On the other hand, David Gokhshtein, founder of Gokhshtein Media, says he would prefer ETH over BTC right now for no other reason than just based on returns. Looking at the seven-day returns of both Bitcoin and Ethereum, it turns out that ETH is outperforming in this regard. Bitcoin has increased by 3.4 percent in the last seven days, while Ethereum has increased by 8.8 percent in the process.
I’d go with $ETH over $BTC right now just purely on returns.
— David Gokhshtein (@davidgokhshtein) December 1, 2022
The opposite situation can be seen in longer time frames. BTC outperforms ETH on both the 30-day and annual timeframes. According to the data, Bitcoin has lost 16.2 percent and 69.9 percent in the last 30 days and annually, respectively. ETH, on the other hand, has dropped 18.2 percent in the last 30 days and 72.3 percent year-on-year.
Mike Novogratz: Bitcoin will recover
Finally, Mike Novogratz called for SBF to be prosecuted, noting that the crypto industry will recover from the effects of the FTX boom. Novogratz recently discussed Sam Bankman-Fried’s last words in an interview at the New York Times’ DealBook Summit. He wanted the FTX founder to be prosecuted and arrested. He claimed that such a development would save Bitcoin and the crypto industry from the damaging effects of the FTX debacle.
Talking about the comments, Novogratz claimed that SBF was not the only culprit in the FTX case, claiming that all the people involved in the incident were “perpetuating a massive fraud.” He then stated that he wanted the relevant authorities to get to the bottom of what happened and arrest those involved. “He needs to be tried. Let them spend time in prison,” he said. According to Mike Novogratz, Bitcoin and cryptocurrency markets will recover from the harmful effects of the FTX event.
