Famous crypto billionaire Mike Novogratz took a sensational view and predicted that Bitcoin (BTC) would reach $500,000. Galaxy Digital CEO Mike Novogratz believes that the price of Bitcoin (BTC) will reach $500,000 in a few years.
Famous billionaire who predicted 500K for Bitcoin
During his appearance on Bloomberg TV on Tuesday, Galaxy Digital CEO Mike Novogratz said that Bitcoin (BTC), the largest cryptocurrency, has $500,000 in five years. He predicted it would reach the US dollar level. Crypto billionaire Mike Novogratz acknowledges that if the flagship coin fails to reach the price milestone mentioned above, there will be a break in the adoption cycle. The billionaire claims that Bitcoin (BTC) has grown much faster in the past year compared to the internet in the 1990s. “I see this going viral everywhere,” Mike Novogratz said. The cryptocurrency boss compared Bitcoin (BTC) to diamonds and gold, as it is not controlled by the government.
Bitcoin’s latest run has been bolstered by the Federal Reserve’s narrative that it will “print money forever,” according to the crypto boss. Now that the Fed has faltered, the largest cryptocurrency is in the midst of a downtrend. “I don’t think Bitcoin can recover aggressively until it takes a pause,” Novogratz said. As Cryptokoin.com previously reported, the billionaire correctly predicted that the crypto market would underperform in early 2022.
Regulatory hurdles and the course of BTC
The entrepreneur predicts that the Nasdaq technology index, which has recently traded with Bitcoin, will come under pressure. According to Novogratz, the cryptocurrency revolution is not just in one lane. He noted the rapid growth of altcoins, non-tradable tokens and dollar-pegged stablecoins. Still, there are some regulatory hurdles. Novogratz has filed a lawsuit to get rid of BitLicense, New York’s landmark cryptocurrency regulatory framework. It also sent a criticism to the Securities and Exchange Commission for its controversial strategy of regulation through enforcement. At the same time, Novogratz once again praised the Biden administration’s crypto-related executive order.
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