From time to time, we experience events that we will call turning points in the crypto money market. We realize the magnitude of the event when we experience it. It is possible to predict some things without living. However, the predictions do not always happen in the direction we want. Galaxy Digital CEO Michael Novogratz shares his views on the state of Bitcoin for 2023. Let’s see what event will lead the market?
The turning point for the cryptocurrency Bitcoin
It is a fact that the cryptocurrency Bitcoin is experiencing tides in 2023. Now it is trying to exceed the 30 thousand dollar limit. He also wants to get rid of the traces of last year’s bear market. Perhaps the most important event this year was the interest of institutional investors in the asset.
In this direction, important statements are coming from billionaire and Galaxy Digital CEO Michael Novogratz. According to him, there is a development that is a turning point for Bitcoin. This development is explained by Larry Fink, CEO of BlackRock, which manages trillions of dollars in assets. As Kriptokoin.com, we have mentioned before, Fink gave an interview on July 29. When we look at his statements in his interview, we see that he has openly adopted the cryptocurrency Bitcoin. On the other hand, his statements show that the cryptocurrency space is now an ardent supporter.
The road from skepticism to acceptance
At this point, Novagratz uses an interesting phrase for the transformation in Fink. Accordingly, for Fink, the phrase “he took an orange pill” is actually a phrase for his transformation. It also explains how to take someone who doesn’t believe and turn them into someone who believes in Bitcoin.
Let us remind you that Larry Fink is a disbeliever in the cryptocurrency space. Before he became an advocate of cryptocurrency, he was skeptical of the benefits of Bitcoin. Now that doubt is gone. Larry Fink says there will now be a global currency for Bitcoin. He also states that people around the world trust the cryptocurrency.
Effect of BlackRock on Bitcoin price
According to Novogratz, it will be a reflection of BlackRock’s spot Bitcoin ETF application and Fink’s changing outlook on cryptocurrency. Accordingly, these developments will allow Bitcoin to reach new heights. It will also enable new adoptions and adoption cycles for the cryptocurrency.
Fink’s skepticism goes back to 2018. He stated that he had no interest in cryptocurrencies at the time. However, he did not use clear language in his explanations. He also emphasized on legal clarity. However, it should be noted that the USA has not yet enacted comprehensive regulations to manage the crypto money industry. On the other hand, let us remind you that the US Securities Exchange Commission (SEC) has been criticized for allegedly trying to strangle the industry.
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