Galaxy Digital CEO Mike Novogratz predicts that Bitcoin (BTC) could increase tenfold in the next five years. While the CEO draws attention to $30,000-50,000 in Bitcoin, he states that $500,000 can be seen in five years. Here are the details…
Mike Novogratz gave his Bitcoin prediction
Galaxy Digital CEO Novogratz said that Bitcoin may be traded at different levels for the rest of this year, but the largest cryptocurrency by market cap He said that as adoption of the unit increases, it will reach a six-figure price in five years. However, Novogratz stated that we can hover in the range of 30,000-50,000 dollars throughout the year, and used the following expressions:
I think we will be in the range of 30,000 – 50,000 dollars in Bitcoin all year. It’s not downside, it’s upside and risky. But I think I’d be wrong in the adoption cycle if after five years Bitcoin doesn’t hit $500,000.
Cryptocurrencies go viral
Also, Galaxy Digital CEO says Bitcoin adoption in 2021 is happening faster than internet technology in the 1990s . He talks about cryptocurrencies and Bitcoin going viral everywhere as the adoption cycle accelerates. As Cryptokoin.com reported, Bitcoin and other cryptocurrencies have become very popular by breaking records last year. He states that many funds are transferring Bitcoin to their baskets and uses the following statements:
We are seeing an accelerating adoption cycle. Bitcoin has grown much faster over the past year. Crypto has grown more than the internet did in the 90s during its heyday. I see Bitcoin going viral everywhere. You know that pension funds in the Middle East or the United States are all ready to join the field.
Novogratz also says that the decision of the Russian central bank to freeze assets after the Russian invasion of Ukraine by the US and its allies will benefit Bitcoin and other digital assets. Noting that people are questioning what reserve currencies are, he said, “I think we are entering an unknown world, where people are asking ‘what is a reserve currency?’ he asks”. He states that the dollar will not be the only reserve currency, and that complex assets can be seen as reserves. He states that some of them can certainly be viewed as gold and digital assets.
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