Michael Novogratz, a well-known cryptocurrency enthusiast and founder of the Galaxy Digital investment bank, believes that in the next couple of years the Bitcoin exchange rate will reach $ 40,000.
In an interview with Bloomberg, Novograz said that the recent rise of Bitcoin was caused by an increased interest in the cryptocurrency industry from institutional investors. In addition, large companies, such as Facebook, have begun developing their own projects.
Now bitcoin is trading between $ 10,000 and $ 14,000, but the next bullish breakthrough should allow the first cryptocurrency to exceed $ 20,000. At the same time, the same parabolic growth is unlikely to happen before the end of the fourth quarter of this year.
Novograz also noted that the Facebook Libra project “brings the entire cryptocurrency industry into the view of the authorities.” At the same time, the low volatility of a steyblecoin will make it an excellent means of payment. A cryptocurrency enthusiast believes that tougher regulation will only hinder the industry.
We note that, as Michael Novograz recently said, he sold a few coins on the rise of Bitcoin to $ 13,500 and regrets that he did not sell more.