Billionaire Mike Novogratz: Enough Already.Bitcoin Core is BTC

Photo via CoinDesk

The operator of the @Bitcoin Twitter account has lately hopped on the bandwagon over “Bitcoin Cash is Bitcoin.” And Mike Novogratz, a billionaire, had a message for the said account.

As a response to a post that declared that Bitcoin Cash is the “oldest cryptocurrency” and that BTC is “an experimental currency” that is basically two years old, Novogratz answered that “Bitcoin core is BTC.”

He said: “Enough already. Bitcoin core is BTC. It is a store of value. It is digital gold. Its market cap dwarfs bitcoin cash.

“If you want to be a payments currency by definition you need to have a stable value. So why own it?”

Novogratz is a former partner of Fortress. He recently raised $250 million to establish Galaxy Digital, a cryptocurrency merchant bank that is based in Canada. He further said that bitcoin is analogous to gold. He said that is an asset that is virtually never used to make payments in the modern world.

He said: “When is the last time you bought something with gold? No one does. It’s just a store of value.”

The comments of Novogratz on whether BCH or BTC is the true heir to the “Bitcoin” mantle appears as the conflict between the two factions has been heating up steadily.

Recently, the Bitcoin.com of Roger Ver stoked the flames by modifying its block explorer to record BTC as “Bitcoin Core” and BCH as “Bitcoin.”

Unsurprisingly, this sparked a massive backlash from the critics of Bitcoin Cash — most of whom derisively point to it as “Bcash” — and a cohort started a campaign to launch a class-action lawsuit against Ver.

However, the said initiative proved to be short-lived as the legal fund was not able to collect enough donations to take the campaign off the ground.

Even so, it was evidently successful in one respect, as Bitcoin.com quietly converted the change that it had made to its block explorer.

Meanwhile, CoinMarketCap, which is far and away considered as the most popular cryptocurrency price tracking website, silently removed a link to Bitcoin.com from the currency page of Bitcoin. Along with Satoshi-founded Bitcoin.org, the website had been previously listed as a quasi-official resource on CMC.