Novogratz challenges Roubini to a dare at the SALT conference

09 May, 2019
by Will Heasman
Novogratz challenges Roubini to a dare at the SALT conference

Yesterday, the SALT conference in Las Vegas saw the best of the finance and tech elite gathered together to debate on the future of their respective fields. One such debate turned into a bet, after the CEO of Galaxy digital, Mike Novogratz, challenged the economist and notorious crypto skeptic, Nouriel Roubini to a wager.

According to CNBC, Novogratz wagered Roubini following his vitriolic comments made on Bitcoin, Ethereum and other altcoins. Roubini allegedly stated that the aforementioned digital assets don’t deserve to be called “cryptocurrencies.”

"cryptocurrency is totally a misnomer," he said. "To be a currency, you have to be a unit of account, valuable and a scalable means of payment."

When in Vegas... 

In response to this, the ever-persistent Bitcoin bull, Novogratz, challenged Roubini to a bet:

"Bitcoin is at $6,000 now," Novogratz told Roubini during a panel discussion, "If at Christmastime it's above $6,000, you have to wear a shirt that says, 'I love bitcoin.' If it's not, I will wear a T-shirt saying, 'Nouriel was right.'" 

Unfortunately, Roubini didn’t directly respond, instead, he revisited his tired old rhetoric, calling crypto the “mother and father of all bubbles,"

However, regardless of Roubini’s vitriol, Novogratz continued to praise Bitcoin for its triumphs:

"The reality is there's a tremendous amount of stuff going on. In some ways, there's been a small miracle," Novogratz said. "The debate is over, bitcoin won. It is now seen by people all around the world as a legitimate place to [store] their value."

Later on, Novogratz stood firmly by his price prediction of $20K telling CNN Business on the sidelines of the SALT conference that Bitcoin would likely revisit its all-time high within the next 18 months.

Are we likely to see Roubini in a shirt that reads “I love Bitcoin,” any time soon? Let us know what you think in the comments!

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