Bitcoin and the Crystal Ball – When people start talking about Bitcoin price forecasts, opinions are all over the place. However, this estimate is very interesting, as it is made by Mike Novogratz, CEO of Galaxy Digital. For him, Bitcoin would go straight to $50,000 by 2022.
„The herd is (really) coming.
Prior to founding Galaxy Digital, Mike Novogratz was a trader in hedge funds. His years of watching price charts led him to direct his own investment fund into the cryptomoney sector.
In a recent web conference with moderator Peter McCormack, the head of Galaxy Digital confessed that he may have been too eager to see Bitcoin adopted, but this time he was convinced that it was on the right track :
„I kept saying that the [adoption] flock was coming. And I was wrong. It was so slow in coming. Now the herd is really coming. And I see it. I’m getting phone calls every day, and that leaves me very optimistic for the whole crypto market. »
Between that and the now continuous influx of large investors (such as MicroStrategy, which he cites as an example), Mike Novogratz believes that Bitcoin will trade at „$50,000 or more“ within the next 2 years.
Bitcoin at the Top of the Investment Podium
In another interview with CNN, the CEO of Galaxy Digital this time compared Bitcoin and cryptos to other asset classes. His verdict on the shares is indisputable:
„I think it’s a really dangerous time to be in the stock market (…) I’m waiting for a little more clarity and better entry points (…). There will be a time to buy shares again, but I think that 40 days before this [U.S. presidential] election, if Biden wins, he will raise taxes, especially capital gains tax. »
As for gold, although Mike Novogratz appreciates the safe haven status of this asset, he clearly prefers Bitcoin :
„I think that gold and Bitcoin are very similar assets (…). I’m a real bull on gold. I’m a real bull on Bitcoin. I just think Bitcoin has more [upward] potential. »
However, last July, Novogratz still advised to own more gold than bitcoin in a balanced investment portfolio. Has he changed his mind since then? In any case, the more time goes by, the more the head of Galaxy Digital seems enthusiastic about the king of cryptomoney.