US credit crunch means it’s time to buy Gold and Bitcoin: Novogratz

The Galaxy Digital CEO, Michael Novogratz, predicts tough times ahead for the United States economy in the near future. According to him, investors should look towards gold and Bitcoin to guard against inflating asset prices. The United States is currently in a bit of a financial pickle as the recent credit crunch spells out a precarious path for the country’s financial future. With the US Federal Reserve tightening its monetary policy and raising rates, the country is finding itself in an increasingly complicated situation. Novogratz, who believes that the US is heading into a long recession, has come up with his own strategy outlined in a recent tweet. He suggests that investors looking to guard against inflating asset prices should buy gold and Bitcoin. Novogratz believes that the current financial system is crumbling and that traditional financial instruments are no longer reliable as they can be affected by the decisions of government and economic shifts. He believes that investors should explore alternative options such as Bitcoin as they are less susceptible to manipulation. Novogratz has long been an advocate of Bitcoin, and believes that the cryptocurrency will continue to grow in value. He believes that its value proposition, coupled with its resilience to traditional macroeconomic factors, makes it a suitable asset for those looking to guard against inflating asset prices. In light of Novogratz’s recent advice, it is clear that investors looking to guard their wealth from inflation should consider investing in gold and Bitcoin. With the US economy taking a turn for the worse, investing in alternative options such as these could be the most viable option in the current economic climate. It will be interesting to see if Novogratz’s prediction of a long recession in the US comes to pass, and if investors will turn to alternative asset classes as a way of protecting their wealth. Categories: SVB Featured Image: https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDMvZjJkOGE2NGMtMDBmMi00MDI4LWE1ZWItOGY4ODQzY2YzNDE0LmpwZw==.jpg