$type=grid$count=5$m=0$sn=0$rm=0$show=home

Mike Novogratz: Web 3.0 Will Change the World, Not Bitcoin

Galaxy Digital CEO Mike Novogratz argued that not bitcoin, but web 3.0 will change the world, since BTC is just a store of value.

The world’s largest cryptocurrency, bitcoin (BTC), is not going to change the world as it is just a store of value, Galaxy Digital CEO Michael Novogratz said at ConsenSys’ Ethereal Summit on May 11.

Major bitcoin bull and former Wall Street exec Novogratz made his comments during a speech entitled “The Herd Is Still Coming!” at the industry event, which Cointelegraph attended as a media partner.

Starting with bitcoin, “as it came first,” Novogratz claimed that the coin has “really establishing itself as a store of value,” noting that it is “kind of finished” in terms of fulfilling its use case as a store of value. Novogratz also compares the asset to gold, arguing that both have value as a social construct.

Since bitcoin represents a store of value or acts as a “digital gold,” it is “not going to change the world,” Novogratz argued. He further stated that instead it is web 3.0 that “has the potential to change the world.” According to Novogratz, web 3.0 envisions a revolution in how networks function and data is treated as it is “a decentralized platform to process information. It’s separating data from the processing of it.” The investor noted that public ecosystems such as Ethereum and “lots of competitors are all vying for this space.”

Comparing various cryptocurrencies with chemical elements in the periodic table, Mike also considered the role of altcoins, hinting that each coin will have “to prove themselves out” in order to provide a certain use case. On this note, Novogratz argued out that “there’s no one building anything on the litecoin blockchain,” as opposed to the Ethereum blockchain, referencing a recent tweet of his.

Novogratz elaborated in his talk:

“If you really think bitcoin is gonna win this store of value, everything else needs to be used for something.”

Recently, Novogratz made yet another bitcoin prediction, claiming that the major cryptocurrency will beat its all-time-high record of $20,000 within the next 18 months.

Meanwhile, crypto markets have rallied since Friday, with bitcoin surging over 10% today to press time, breaking over the $7,000 threshold after trading around $4,000 for most of 2019.

Original Article

COMMENTS

By Readers$type=blogging$cate=2$count=6

Name

Analysis,498,News,2987,Press Releases,338,Sponsored,137,
ltr
item
CryptoNomus: Mike Novogratz: Web 3.0 Will Change the World, Not Bitcoin
Mike Novogratz: Web 3.0 Will Change the World, Not Bitcoin
https://images.cointelegraph.com/images/528_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS9zdG9yYWdlL3VwbG9hZHMvdmlldy9lMTM1M2I2YzJlOTE2NTNmNmUxMDQxNWFmMGNmNWRlMC5qcGc=.jpg
CryptoNomus
https://www.cryptonom.us/2019/05/mike-novogratz-web-30-will-change-world.html
https://www.cryptonom.us/
https://www.cryptonom.us/
https://www.cryptonom.us/2019/05/mike-novogratz-web-30-will-change-world.html
true
4884201149675661183
UTF-8
Loaded All Posts Not found any posts VIEW ALL Readmore Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS PREMIUM CONTENT IS LOCKED STEP 1: Share. STEP 2: Click the link you shared to unlock Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy