Bitcoin’s Biggest Battle Yet
Bitcoin’s value has been on a roller coaster ride these past few weeks. After hitting an all-time high of nearly $65,000 per coin in mid-April, the cryptocurrency suddenly plunged below $30,000 just a week later. And now, after a brief rebound, it’s fallen back below $20,000. So, what’s going on?
The short answer is that there’s been a big battle brewing between two of the biggest names in the crypto world: billionaire investor Mike Novogratz and popular YouTuber Dan Larimer. It all started when Novogratz called Larimer a “scammer” and accused him of being responsible for the recent sell-off in Bitcoin. This set off a firestorm on social media, with many people taking sides in the dispute.
As the fight continued, more and more people began withdrawing their money from FTX, a popular crypto exchange that’s backed by Novogratz. This caused a further decline in Bitcoin’s price, as demand for the currency fell. So far, neither Novogratz nor Larimer have backed down, and it’s not clear how this will all end. But one thing is for sure: it’s shaping up to be Bitcoin’s biggest battle yet.
Before we get into the details of the dispute, it’s important to understand the background of how we got here. First of all, you need to know who Mike Novogratz and Dan Larimer are.
Novogratz is a former hedge fund manager who’s become one of the most vocal proponents of Bitcoin over the past few years. He’s also the founder of Galaxy Digital, a digital asset management firm that invests in cryptocurrencies and blockchain-related companies.
Larimer is the founder of EOS, a popular cryptocurrency platform that competes with Ethereum. He also created STEEM, another crypto platform that was once one of the most popular sites on the internet (before it was bought by Justin Sun).
So why are these two men at each other’s throats? Well, it all started with a tweet from Novogratz…
The Dispute Begins
On April 25th, Novogratz sent out this tweet: “I am convinced @danlarimer is a scammer.” This was in response to Larimer’s decision to sell all of his STEEM tokens (worth around $6 million at the time) and move them over to EOS.
Larimer responded by calling Novogratz a “has-been” and accusing him of trying to “pump & dump” Galaxy Digital stock. He also said that he would be happy to debate Novogratz on any stage or podcast.
Novogratz then doubled down on his accusations, calling Larimer a “scammer” and saying that he had “defrauded thousands.” He also said that he would be happy to debate Larimer anywhere—except on Twitter, because he doesn’t want to give him any more attention.
The war between Mike Novogratz and Dan Larimer has sent shockwaves through the crypto world—and it doesn’t seem like it’s going to end anytime soon. With both men dug in their heels, it remains to be seen how this will all play out. But one thing is for sure: it’s going to be fascinating to watch!