Novogratz defended Ethereum’s position and said that it’s more promising in contrast to Bitcoin as the Fed stops adding cash to the economy. The billionaire crypto bull said that he expects a “monster fourth quarter” on the back of a booming economy.
He also added that stocks are trading more bullishly than crypto.
“Crypto’s not trading as bullish as equities because you see this tension, that the Fed’s going to take the booze away from the punchbowl much sooner than we thought,” Novogratz said in a Wednesday CNBC “Squawk Box” interview. “Broadly that shouldn’t be good for risk assets.”
