Mike Novogratz Says Bitcoin ‘Won’ the War of Cryptocurrencies

Bitcoin has won the war of cryptocurrencies.

That’s the view of Michael Novogratz, the billionaire co-founder and chief executive officer of Galaxy Investment Partners LLC, one of the most prominent companies in the embryonic digital-asset market. The original cryptocurrency is viewed as a store of value, like gold, while other coins still have to find their uses, he said.

“I feel better about Bitcoin today than I have at any time in my career,” Novogratz said during an interview on Bloomberg Television from a conference in Las Vegas.

Among the reasons for his optimism about the sector are increasing regulation ...