Former Fortress Investment Group executive Michael Novogratz has made a lot of predictions about his beloved bitcoin over the past few years. The only one that proved prescient was the rare bearish call when he ruefully conceded that not only would BTC not hit his $40,000 target in 2018, it wouldn’t even crack $9,000 that year. (On the other hand, that was perhaps not too hard a call to get right: Bitcoin went for about $6,500 when Novogratz cried uncle and ended the year at about $3,800.)
Bearing that in mind, here’s his new prediction about the fake stuff vs. gold and treasuries amidst the COVID-19 epidemic, which has to date been anything but kind to the imaginary currency.
We’re not at all sure that Novogratz will be able to afford dinner at Masa in three months, unless he’s assuming there will be no restaurants left in New York City for him to make good on that bet.