Mike Novogratz, founder of U.S.-based cryptocurrency financial services firm Galaxy Digital, believes bitcoin and ethereum, along with gold and the euro, will outperform other investments as the Federal Reserve (Fed) begins to ease up on rate hikes.
According to Novogratz, the recent spate of regional bank failures could lead to a potential credit crunch that could lead to lenders cutting back on borrowers and a slowing economy.
The clearest trades have been and continue to be long gold, long euro, long bitcoin, long ethereum. These assets should do well if the Fed stops raising rates and then cuts.