Mike Novogratz wins half a bitcoin for a bet on the US elections
Mike Novogratz wins half a bitcoin for a bet on the US elections
Bitcoin

Mike Novogratz wins half a bitcoin for a bet on the US elections

By Amelia Tomasicchio - 9 Nov 2020

Chevron down

Billionaire Mike Novogratz won 0.50 Bitcoin (BTC), or currently $7,726, for betting on Joe Biden as the winner of the US presidential election.

The bet on the US elections was made together with Novogratz’s friend Stoney Bilson, tagged in the post.

The two decided to donate the winnings to those who don’t have any Bitcoin (BTC) yet, so the 7 thousand dollars will in fact be given to those who will reply to Novogratz’s tweet and guess what number from 1 to 1000 they thought.

Obviously, it will be difficult to understand if the Twitter user who will win is really a person who doesn’t already have any bitcoin, since it’s easy to create a new wallet and “demonstrate” that they don’t have any. What’s certain is that the initiative is praiseworthy, at least in its intent, encouraging new users to learn more about cryptocurrencies.

Novogratz’s bet on the US elections

Unfortunately, we do not know where this bet took place, whether on a platform or among friends.

However, platforms such as FTX or Polymarket, defined as “prediction markets”, have been widely used during this time to bet on US elections using Bitcoin.

Even on the EOS blockchain there was a poll on whether Brock Pierce had won or not some time ago.

Since last year, it has been possible to create and participate in referendums and polls directly on the EOS blockchain.

Who is Mike Novogratz

Novogratz is the CEO of Galaxy Digital Holdings, a financial institution dedicated to digital currency and blockchain technology, offering asset management, trading and advisory services.

Galaxy recently signed an agreement with Bakkt to provide the best tools to buy, sell and store Bitcoin with direct services to institutional investors.

As a result, Novogratz is responsible for promoting Bitcoin and blockchain technology, often also predicting the price of the asset. Just recently Novogratz stated that the price of BTC could soon rise again to $20,000 by the end of 2020.

Amelia Tomasicchio

As expert in digital marketing, Amelia began working in the fintech sector in 2014 after writing her thesis on Bitcoin technology. Previously author for Cointelegraph and CMO at Eidoo. She is now the co-founder and editor-in-chief of The Cryptonomist. She is also a marketing teacher at Digital Coach in Milan and Business Developer at MEXC for the Italian market.

We use cookies to make sure you can have the best experience on our site. If you continue to use this site we will assume that you are happy with it.