Novogratz comments on telegram saying we don’t need another cryptocurrency

Table of Contents

• Telegrams legal issues

• Michael Novogratz took to Twitter earlier this week to claim that the team at telegram should dedicate their time to integrate bitcoin with stablecoins. 
• Novogratz gives his opinion that telegram and could leverage their existing audience in a different and unique way. 

• Rather than going down the route of an ICO, the roadmap could include enabling bitcoin in their platform.

The well-known bitcoin advocate and famous crypto investor, Michael Novogratz took to Twitter earlier this week to claim that the team at telegram should dedicate their time to integrate bitcoin with stablecoins as we don’t need another crypto according to him. 

Writing in the Twitter post which can be seen below, Novogratz gives his opinion that the social telegram and could leverage their existing audience just shy of 400 million users in a different and unique way. Rather than going down the route of an initial coin offering (ICO), the roadmap for the future could include enabling bitcoin in their platform instead.

The well-known bitcoin bull further states that the time has come to turn those users on telegram into consumers.

Telegram should enable $btc and stable coins on their platform. We don’t need another blockchain. We don’t need another crypto. They have an awesome community of messaging users. Turn them into consumers now. https://t.co/isZRXG9FPN

— Michael Novogratz (@novogratz) April 30, 2020

Novogratz has said that it is all due to original investors such as him getting tired of useless and never tokens/coins. Essentially, he, as well as many other traditional investors in the crypto space want thousands of the BTC and ETH copycats to disappear.

Telegrams legal issues

The mind is behind the telegram up, the Durov Brothers claim that the team will continue the fight with the securities and exchange commission in the United States.

Early this week, reports surfaced that the social network sent a letter to investors claiming that they need to choose between two options for their investment in the TON project. The first option is for investors to withdraw the funds immediately and receive 70% of the investing money back. However, there is another option which is to wait until this time next year to receive 110% return in GRAM tokens or any other preferred currency on the 30th of April 2021.

It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!