-1.67% Bitcoin (BTC) 89528.8 EUR
-3.33% Ethereum (ETH) 2043.19 EUR
-3.41% Litecoin (LTC) 70.93 EUR
-4.03% B-Cash (BCH) 429.5 EUR
-1.72% Ethereum (ETH) 0.0230583 BTC
-1.73% Litecoin (LTC) 0.00080093 BTC
-2.52% B-Cash (BCH) 0.00479649 BTC
-1.62% Bitcoin (BTC) 106678.2604 USDC
-0.08% USD Coin (USDC) 0.84 EUR
-3.36% Chainlink (LINK) 10.99 EUR
-1.78% Chainlink (LINK) 0.00012295 BTC
-4.13% Dogecoin (DOGE) 0.13 EUR
-2.58% Dogecoin (DOGE) 0.00000151 BTC
-8.19% Uniswap (UNI) 5.61 EUR
-6.61% Uniswap (UNI) 0.00006262 BTC
-4.81% Cardano (ADA) 0.46 EUR
-3.33% Cardano (ADA) 0.0000052 BTC
-0.16% Tron (TRX) 0.23 EUR
+1.52% Tron (TRX) 0.00000267 BTC
-1.63% Shiba Inu (SHIB) 0.00000965 EUR
-2.00% Zcash (ZEC) 31.56 EUR
0.00% Zcash (ZEC) 0.0004242 BTC
0.00% TradeFlow (TFLOW) 0.12216892 BUSD
-3.97% Arbitrum (ARB) 0.3259 USDC
-3.16% Chainlink (LINK) 12.84 USD
-3.22% Chainlink (LINK) 12.84859 USDC
-8.18% Uniswap (UNI) 6.533 USDC
-2.74% Ondo (ONDO) 0.63 EUR
-2.73% Ondo (ONDO) 0.74414 USDC
-4.76% Gala (GALA) 0.01 EUR
-4.68% Gala (GALA) 0.01343 USDC
-3.14% Wormhole Token (W) 0.05 EUR
-2.94% Wormhole Token (W) 0.069 USDC
-3.46% Chiliz (CHZ) 0.02 EUR
-3.37% Chiliz (CHZ) 0.0338 USDC
-3.53% Sand (SAND) 0.19 EUR
-3.29% Sand (SAND) 0.2315 USDC
-5.87% Aave (AAVE) 220.63 EUR
-5.67% Aave (AAVE) 260.26 USDC
-3.91% Curve DAO (CRV) 0.42 EUR
-3.49% Curve DAO (CRV) 0.4987 USDC
-2.79% Immutable X (IMX) 0.36 EUR
-2.37% Immutable X (IMX) 0.4268 USDC
0.00% Skale (SKL) 0.07 USDC
-8.94% Beam (BEAM) 0 EUR
-8.59% Beam (BEAM) 0.00532 USDC
0.00% Axelar (AXL) 1.05 USDC
+0.21% Livepeer Token (LPT) 5.11 EUR
+0.38% Livepeer Token (LPT) 6.02 USDC
-6.40% Compound (COMP) 35.05 EUR
-6.28% Compound (COMP) 41.33 USDC
-5.60% Coti (COTI) 0.04 EUR
-4.79% Coti (COTI) 0.0496 USDC
0.00% Portal (PORTAL) 1.1 USDC
-4.50% Sushi (SUSHI) 0.49 EUR
-3.92% Sushi (SUSHI) 0.5797 USDC
-5.95% Pepe (PEPE) 0 EUR
-5.87% Pepe (PEPE) 0.0000093 USDC
-5.97% Optimism (OP) 0.45 EUR
0.00% Polygon (MATIC) 0.2 EUR
-6.21% Solana (SOL) 125.34 EUR
-4.94% Solana (SOL) 0.0013906 BTC
-3.70% Solana (SOL) 0.060841 ETH
-0.13% USD Coin (USDC) 0.72 GBP
0.00% USD Coin (USDC) 1 USDT
0.00% USD Coin (USDC) 145.58 JPY

US credit crunch means it’s time to buy gold and Bitcoin: Novogratz

03-16-2023

The Galaxy Digital CEO predicts tough times ahead for the United States economy but continues to be bullish on crypto.

The United States is headed for a credit crunch and now is the right time to buy gold, silver and Bitcoin 

 BTC tickers down$24,658, says Galaxy Digital founder and CEO Michael Novogratz.

“We are going to have a credit crunch in the U.S. and globally,” Novogratz said in an interview on CNBC. “You want to be long gold and silver [...] and you want to be long Bitcoin,” he said.

Speaking on CNBC’s Squawk Box on March 15, Novogratz noted that banks typically rebuild capital by lending less, meaning that a credit crunch is imminent, noting that indicators like the commodities market are already pointing to a recession.

The U.S. banking industry fell into turmoil this month, with Silvergate Bank, Signature Bank and Silicon Valley Bank all collapsing in the same week. Moody’s downgraded the U.S. banking system outlook to “negative.”

 

Novogratz told CNBC that a reversal in interest rate policy was in the cards, saying that while the Federal Reserve would “like to do a dovish hike, just for credibility’s sake,” doing so would be a “huge policy error.”

Alongside his prediction of tough times for the U.S. economy, Novogratz expressed a bullish sentiment for crypto, saying:

“If there was ever a time to be in Bitcoin and crypto, this is why it was created, in that governments print too much money whenever the pain gets too great, and we’re seeing that.”

The price of Bitcoin dipped after the collapse of Silicon Valley Bank last week but managed to reach new 2023 highs of $26,514.72 on March 14, according to CoinMarketCap.

Source: Cointelegraph.