According to the famous billionaire Michael Novogratz, a Bitcoin investor, Bitcoin’s biggest rival is not gold. Novogratz claims that the biggest competitors of Bitcoin rather than gold are the stocks of companies with a good story like Tesla and Beyond Meat.
Speaking to the Unchained Podcast, Novogratz said, “Just like crypto. These shares have stories that can lead people to buy. ” used expressions.
Beyond Meat is a company that was founded in 2009 and traded at Nasdaq, producing plant-based artificial meat. As many know, Tesla is working on electric vehicle technologies.
However, Novogratz predicts that if Joe Biden wins the US Presidential election with a 40 percent tax implementation plan on capital earnings, the shares will experience a huge selling wave.
Novogratz compared Tesla’s shares to $ 586 last year, compared to the cryptocurrency craze in 2017. Since then, the company's shares have continued to increase at a striking pace, and at this point, TSLA is trading at $ 1080 at Nasdaq.
The famous investor recently said that after Bitcoin broke $ 10,000, many people could see $ 14,000 more quickly than they expected. Bitcoin is bought and sold at $ 9 thousand 160 in the minutes when the news goes live.