Mike Novogratz, CEO of Galaxy Digital, says Bitcoin will rise to $ 100,000. Purchases by institutions will be behind the jump in price. He added that older investors can also start investing in cryptocurrencies.
Mike Novogratz: Bitcoin finds its way into the wallets of big investors
In an interview with Bloomberg Technology Novogratz admitted that he is witnessing a growing interest in Bitcoin on the part of large institutional investors.
– We started meeting one group of investors after another. These were corporations – Square, MicroStrategy, and Tesla. These were insurance companies – Mass Financial and others. They are wealthy people. They are ETFs – He said.
He added that we had lived in the world not so long ago, “Where buying Bitcoins was a bit risky.” But the realities have changed a lot now, which is the result of printing huge amounts of money by banks.
– Our Galaxy business is booming – He said.
It is said that the number of investors who want is constantly growing “understand” Bitcoin and join the current trend.
BTC at $ 100,000
All of the above must have consequences. As more and more institutions are buying Bitcoin, Novogratz predicts that the price of BTC will more than double and reach $ 100,000. When? By the end of 2021
– It seems that we are going to consolidate in this area, around $ 50,000 (…), but then another big wave [podniesie cenę] up to $ 100,000 – he predicted.
In November 2020, Novogratz predicted that Bitcoin would eventually surpass $ 20,000 – the previous ATH – and then hit $ 65,000. The latest forecast from the head of Galaxy Digital suggests an increase of over 100%, as the cryptocurrency currently costs around $ 47,000.
Novogratz adds that he believes even older investors will likely start buying Bitcoin soon.
– You know, it surprises me. (…) the adoption I see is shocking and it’s not like I’m just a guess [analizując rynek]. I look back, look ahead and see all these new projects coming up, banks that will have products for their wealth management companies. Every major bank in America is working on a wealth management product, so we’re going to reach the baby boomer generation sooner than expected – He said.
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