Bitcoin (EXANTE: Bitcoin) bull and Chief Executive of a crypto-focused band Galaxy Digital Michael Novogratz in a tweet commenting the case with the Telegram Open Network (TON) said that the cryptocurrency industry does not need another blockchain or cryptocurrency.
The former Wall Street trader says Telegram has "an awesome community of messaging users" and this is why the company should rather turn its clients "into consumers."
"Telegram should enable BTC and stable coins on their platform," said Novogratz.
In April, Novogratz said in an interview with CNBC that if bitcoin fails to go up this year, then he "might hang" his spurs.
An even though bitcoin succeeded to experience a one-day rally, surging by 17%, there is still time before the halving when the largest by market cap asset can rapidly fall in price.
Earlier iHodl reported that the Telegram team send a letter to investors in which it confirmed that investors have the right to claim 72% of investments back and attaches the form of the relevant contract. However, they can also receive 110% of their initial investment if they sign a loan agreement for another year.