CEO Mike Novogratz (Galaxy Digital) believes Bitcoin will hit $ 500,000. As he claims “We have reached a turning point in the network effect.”
Mike Novogratz from Galaxy Digital remains optimistic about Bitcoin
IN during the discussion with Michael Saylor on MicroStrategy’s YouTube channel, Novogratz predicted that Bitcoin would continue to function well, but more as an asset rather than a currency.
– I think we have reached a turning point in this network effect that I was talking about (…): if I look at Bitcoin in terms of the gold market, I think Bitcoin will be digital gold. I know many people disagree with me. They think, “No, it will be money. It will be the main blockchain. ” I just don’t think so. I think [BTC] it’s a great store of value. It was perfectly designed as a store of value The businessman explained.
Race against gold
The above thinking has consequences in terms of price prediction. BTC as a store of value must – according to Novogratz – somehow catch up with the level of market capitalization to the level at which it is now a classic safe haven.
As he explained, Bitcoin can take over further percentages of gold market capitalization.
– In my opinion, we will easily reach 10% by the end of the year. This way you will receive Bitcoin for USD 55,000-60,000. I know that as soon as we reach 10% we will say, “Why 10? Why not 20? “And when we reach 20 percent, we’ll talk about 50 percent, then 100 percent. – added. – So at the end of this year, we’ll have $ 60,000 [ [za 1 BTC]and probably $ 500,000 as early as 2024-2025… It won’t happen overnight – He said.
As he further explained, along with the BTC adoption, there must be more knowledge about cryptocurrencies. It is about “More and more education, more and more such seminars [ jakie robi Microstrategy], more and more people are buying this vision. “
At the time of writing, Bitcoin costs $ 48,881.
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