Bitcoin becoming less-risky as an investment, Novogratz says

Bitcoin has gained significant notoriety in the decade since its 2009 launch.

Mike Novogratz, CEO of Galaxy Digital, said Bitcoin is now an obvious financial play.

"On a risk-adjusted basis, BTC is an easier bet today than it has ever been," Novogratz said in an Oct. 27 tweet.

Cointelegraph reached out to Novogratz for additional details, but received no response as of press time.

"Adjusted by its volatility, Bitcoin has presented the best 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.

Square, headed up by Twitter CEO Jack Dorsey, purchased $50 million of Bitcoin recently, publicized on Oct. 8.

With its mainstream involvement, including the traditional trading products being built around it, Bitcoin is much easier to gain financial exposure to today than it once was.

Though it was originally designed as an alternative form of currency, Bitcoin has gained prevalence more as a store of value and investment option in recent years.

"I don't think Bitcoin is going to be used as a transactional currency any time in the next five years," Novogratz said in an interview with Bloomberg TV, posted on Oct. 23.

"Bitcoin is being used as a store of value," he added.