Popular billionaire investor and CEO of Galaxy Digital Holdings Mike Novogratz has made another positive forecast for the main cryptocurrency Bitcoin (BTC). Novogratz states that after the development of Bitcoin, the price will rise.
According to Novogratz, one of the most important factors for BTC is the Fed.
According to Galaxy Digital CEO Mike Novogratz, the price of bitcoin will rise significantly when the main US bank, the Fed, “stops.” Novogratz said he believes the Fed will raise interest rates by up to 50 percentage points in its quest to lower inflation. If this happens, the well-known CEO claims, the US economy will slow down, which may lead to the central bank retreating a little. Novogratz comments on this:
While I sleep, I pray that the officials from the US economy do not destroy it, I pray that the dollar is strong and does not go into eternity. Because Bitcoin forever means that the rest of the Western world is really falling apart.
The cryptocurrency billionaire emphasizes that he is optimistic that as long as the situation in the West is stable, Bitcoin can surpass the historical maximum of $69,044 recorded in November 2021. Novogratz recently reported that Bitcoin was trading with the traditional Nasdaq 100 financial instrument.
Galaxy Digital CEO Is Optimistic about Bitcoin
The CEO of a well-known company adds that the leading cryptocurrency may be in the process of abandoning a partnership with Nasdaq. While many are looking forward to the day when Bitcoin will be used to buy everyday items, Novogratz believes that the cryptocurrency will become a means of saving, where he will take part of his wealth and “store it there.”
As we reported on Somagnews, Bitcoin (BTC), the leading cryptocurrency, has experienced several ups and downs since the beginning of this year. Despite the volatility of bitcoin prices, Novogratz has always supported cryptocurrency. Earlier this year, Novogratz, who placed a $1 million bet against bitcoin critic Peter Schiff, said bitcoin would trade above $35,000 by the end of the year.