SATS Should Replace Bitcoin on Crypto Exchanges: Mike Novogratz
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SATS Should Replace Bitcoin on Crypto Exchanges: Mike Novogratz

May 10, 2021      Jafrin Ahmed

Mike Novogratz, the CEO of Galaxy Digital has suggested the idea for introducing Bitcoin’s smallest unit, SATS to be listed on exchanges instead of the flagship cryptocurrency. He refers to people telling him that BTC at the current price is too expensive. Hence, quoting SATS on exchanges will make it more appealing to the average users.

SATS Should Replace BTC on Exchanges says Mike Novogratz

The CEO of Galaxy Digital, Mike Novogratz has taken to Twitter to say that SATS should be a quotable currency on exchanges.

According to Novogratz, too many people see Bitcoin as too expensive at current prices. Hence, a switch to its lowest denomination would remove the idea that BTC is out of reach for the regular investor.

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He went on to call out Changpeng Zhao, Brian Armstrong, Sam Bankman-Fried, and Tyler Winklevoss, the respective CEOs of Binance, Coinbase, FTX, and Gemini to ask which exchange will be the first to list Satoshi for trading.

Named after Bitcoin’s anonymous creator Satoshi Nakamoto, one Satoshis equals 0.00000001 BTC.

At the current value of $0.0005885, one Satoshi paints a picture of an affordable Bitcoin since 1 SATS is lower than a dollar. The same $1 can bring investors roughly 1,710 Satoshi.

Meanwhile, billionaire Mark Cuban explains that the excitement that comes with owning the whole thing might explain the rise of meme cryptocurrency Dogecoin:

It’s hard for someone with $100 to get excited about owning a fraction of BTC or ETH. It’s easy with doge.

CoinMarketCap is Now Tracking SATS

Earlier this week, leading crypto tracking site, CoinMarketCap listed Bitcoin’s smallest unit, Satoshi (SATS).  At time of writing, one satoshi is trading at $0.0005885.

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Satoshi (SATS) is currently ranked 4,988 on CoinMarketCap with a value of $0.0005846 or 0.00000001 BTC.

Data analysis company, Glassnode shares that investors holding less than 1 Bitcoin, have been staking sats from early 2018. Interestingly, this category of investors owns 5.25% of Bitcoin’s circulating supply.

 

#Bitcoin #BTC #Mike Novogratz #Satoshis #SATS
Jafrin Ahmed
Jafrin Ahmed

Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.