Billionaire Novogratz Slams Litecoin, Screams ‘Buy Bitcoin’

[MathGame]

Crypto trader Mike Novogratz fails to see the value in Litecoin. Novogratz, who is at the helm of crypto merchant bank Galaxy Digital, blasts Litecoin’s size and in doing so seems to comes across as threatened by the fifth-biggest cryptocurrency. The Litecoin price has seen its value expand by 40% in April alone, gains that if you ask Novogratz would be better served by bitcoin.

The former Fortress hedge fund manager capitalized on Litecoin’s reputation as being digital silver to bitcoin’s gold, comparing the size of the respective precious metal and crypto markets. While silver’s market cap is a mere fraction of gold’s, Litecoin’s value is more than 6% that of bitcoin.

https://www.ccn.com/litecoin-glorified-testnet-for-bitcoin-mike-novogratz

[poodle63]

That makes sense, all i have got from that article like said what you must give 40% for an experimental coin like litecoin which is not a lot of merchants even wanna adopt it rather than giving it to the king bitcoin that the worldwide already adopted it? Basically, what already said by mike is true.

[bhadz]

All what Mike Novogratz will say is base on the fact that he can see for bitcoin. He's known a bitcoin bull so he'd say that things positively and encouraging for bitcoin. Litecoin price surged and I missed buying the dip when it's just around $30, people wouldn't care about the opinion of these experts when it comes to profit taking.

[bigcash2011]

Although litecoin has been performing well from last many weeks and we should not try to drag it down or create fud as litecoin is also a good coin and there is nothing bad if its value increases while i also agree with the point that in this market btc and eth seems to be the best picks and i think they will give huge upside moves soon.

[taratorly]

Litecoin has made huge profits over the period, but it is always condemned to remain under the Bitcoin. It may never perform better than Bitcoin.

[Script3d]

Even the founder of litecoin told people to buy bitcoin instead, im not surprised this guy told to buy bitcoin instead, besides bitcoin have the biggest gain throughout the history of cryptocurrency.

[Jating]

What do you expect? Mike Novogratz is a bitcoin perma-bull, so it's obvious he will slam all other coins out there.

As for Litecoin, it has its own purpose, it's even been Bitcoin's small brother. And been used as a guinea pig by Bitcoin. So don't be surprised though as I have said, and don't bother to talk Mike out of it, Litecoin supporters should know better. So don't take it personally though, Mike is just doing his job shilling for Bitcoin.

[Necroface]

in the beginning all legendary users told me to hold bitcoin, but i did not listen them and earned well in trading altcoins for awhile but then i learned so well what they say. so i will tell the same, hold bitcoin.

[elitemobb]

I do not agree with his opinion because I believe that each cryptocurrency has its own value, much less a cryptocurrency from the top 10. Yes, of course, I understand that the market is not in the best position now, but you must understand that all this is temporary.

[Awesomus Maximus]

While silver’s market cap is a mere fraction of gold’s, Litecoin’s value is more than 6% that of bitcoin.

You can't compare to gold and silver so literally like this. Although in terms of current price they are not that far off. I think it is better to compare LTC with BTC on the basis of total supply. LTC has four times the BTC total supply, which, all things being equal, should indicate that the value of LTC could hypothetically be 1/4 of the value of BTC. But all things are not equal, and the balance will always be much more on the side of BTC.

[nikola22]

Litecoin is a good coin and I don't understand why someone slams it. maybe Novogratz put too much in bitcoin but it's his problem.

[crenfrosck]

Everybody shills his favourite coin and Mike is not an exception as we can see . First of all, nothing really keeps its value. Everything is determined by trust in a particular asset and from the "demand side" of the graph. Therefore, everything can become an ultimate store of value if a majority believes in its features. BTC and LTC both have a chance to compete against all fiat currencies and merchants can be in favour of LTC- and Mike will be wrong. We can not predict the future, but a cooperation between several major cryptos and other forms of "value holders" can stabilize the system and let it bloom. Not a bad scenario if you ask me  .

[tippytoes]

What do you expect? Mike Novogratz is a bitcoin perma-bull, so it's obvious he will slam all other coins out there.

As for Litecoin, it has its own purpose, it's even been Bitcoin's small brother. And been used as a guinea pig by Bitcoin. So don't be surprised though as I have said, and don't bother to talk Mike out of it, Litecoin supporters should know better. So don't take it personally though, Mike is just doing his job shilling for Bitcoin.

Yes, I agree with your point. If you are a known loyal supporter, you will always say positive things to the one you are rooting for. And all the others, are just secondary as if they don't exist in your realm. But let's accept the fact here, litecoin has been one of the institutions in this crypto market, they are catering specific services and they are staying here for a reason.

[vgk88]

Perhaps Mike Novogratz wants EOS to overtake Litecoin through apitalization. Therefore, he wants Bitcoin to take back some of the buyers who buy Litecoin but not want to buy EOS.

[Kiweikoo]

Well, even I am not a hater of litecoin and I like the way the billionaire is shouting buy bitcoin, we have a lot of bitcoin maximalist in the crypto space and this kind of people are not in support of any other crypto in the market no matter what it has to offer but only focus on bitcoin, I was once that way until I decided to spread and I discovered  that it is also good to check out other projects in the crypto space because most of them are also good.

[coinplus]

First of all we should take a look at what made novogratz a billionaire. When you talk about how he said litecoin is bad and bitcoin is good we should know what qualifications he has to make that type of predictions. He is a dude who made his billions not on crypto but on hedge fund managing, which means even though he has a lot of experience in financial world he is not a very big crypto person from lack of profiting on crypto.

However than we check what he did on crypto and we can see he made a lot of money with buying bitcoin and ethereum very early on, which means after he became a billionaire he managed to also be great at crypto as well. So, there is really no way to dispute this guy knows what he is talking about and has been good at everything he did so far, no reason to doubt now.