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Bitcoin (BTC) has gained significant notoriety within the decade since its 2009 launch. Big mainstream players like MicroStrategy have recently begun to take a position large sums of cash into the asset, normalizing its viability as an investment for a few . Mike Novogratz, CEO of Galaxy Digital, said Bitcoin is now a clear financial play.

"On a risk-adjusted basis, BTC is a neater bet today than it's ever been," Novogratz said in an Oct. 27 tweet. "It’s being de-risked daily."

Cointelegraph reached bent Novogratz for extra details, but received no response as of press time. this text are going to be updated accordingly should a response are available .

"Adjusted by its volatility, Bitcoin has presented the simplest return in one or two years against all other asset classes," Cointelegraph markets contributor Marcel Pechman said when asked to weigh in on Novogratz tweet. "Few investors expect gold to rally 60%, but it never went below -8% therefore the Sharpe index adjusts returns supported volatility.”

Although MicroStrategy bought quite $400 million worth of BTC in recent months, it's not the sole mainstream giant to hitch the party. Square, headed up by Twitter CEO Jack Dorsey, purchased $50 million of Bitcoin recently, publicized on Oct. 8. After disclosing his BTC holdings in May 2020, billionaire Paul Tudor Jones compared the asset to an investment in Apple before its boom.

With its mainstream involvement, including the normal trading products being built around it, Bitcoin is far easier to realize financial exposure to today than it once was. Though it had been originally designed as an alternate sort of currency, Bitcoin has gained prevalence more as a store useful and investment option in recent years.

"I don't think Bitcoin goes to be used as a transactional currency any time within the next five years," Novogratz said in an interview with Bloomberg TV, posted on Oct. 23. "Bitcoin is getting used as a store useful ," he added. "People are worried that the central banks round the world are debasing fiat currencies."

The U.S. government, for instance , printed a huge amount of its national currency in 2020 amid the COVID-19 pandemic; and action that would ultimately decrease the worth of the American dollar as an entire .