Novogratz predicted that Bitcoin will explode more than 2,800% – but there is a buyback. Galaxy Digital founder and CEO Mike Novogratz predicts a meteoric rise for Bitcoin (BTC) that could push the value of the crypto king to unprecedented heights.
Recalling that he predicted that Bitcoin will hit $500,000 by 2025, Novogratz says in a new interview with Bloomberg that he still believes that BTC can reach its maximum price, but also says that it will take a long time more time than originally expected as macroeconomic conditions changed. “Not in five years and I’ll tell you why – the big change that happened and the reason why Bitcoin went from $69,000 to $20,000 was [Federal Reserve Chairman] Jay Powell decided to find his central bankers and start fighting the price front.a series of rate hikes that took rates from 0% to 4+%.
It’s about that easy. That’s why all the wealth, the reason all the wealth is leaking, the wealth is growing which is “hyperinflation” is down because we’re hitting prices on the head…
This is the main reason why crypto has failed.
With Bitcoin trading at $17,041 at the time of writing, a move to Novogratz’s target suggests a 2,834% upside for BTC.
According to Novogratz, crypto assets will finally rally once the industry emerges stronger after the collapse of failed companies such as digital lenders BlockFi and Celsius, as well as crypto hedge funds Three Arrows. Capital. “The rest of this malkey we have between Three Arrows and BlockFi and Celsius and all these companies that are not good or fraudulent destroy the complete trust in crypto.
But that too shall pass. They will be swept away into the dust of history. And the company itself will emerge, learning, power. And you will see that the price is going down.