Mike Novogratz, CEO of Galaxy Digital, which has released a joint Bitcoin spot ETF with Invesco, said that he thinks Bitcoin will easily exceed the record price level in the coming period.
Participating in a broadcast on Bloomberg TV, one of the US media, Novogratz stated that it is now much easier for the older generation, especially the “boomer”, to access Bitcoin.
“Elderly people who expect security will receive it more easily.”
Stating that this group has been waiting for government assurance to buy Bitcoin for a long time, the famous investor said that such a situation is for the first time in Bitcoin history:
“For the first time in Bitcoin history, we are experiencing a price discovery period. I mean, for the first time, people got the right to access Bitcoin very easily. A part of the older generation, which has assets worth $85 trillion, will now be more comfortable with Bitcoin. “They have been waiting for a safe space for a long time.”
“There will be no big decline. “55 thousand can be seen”
Stating that Bitcoin may drop to 55 thousand dollars in the short term, but he does not expect a sharp decline, Novogratz added that if the older generation, which has a wealth of 85 trillion dollars, purchases only 1 to 3 percent of Bitcoin, it will bring a purchase of 2.5 trillion dollars to the largest cryptocurrency:
“Some declines may be seen for a while. For example, it may drop to 55 thousand dollars, but I think we will finish this year well above this price. Corrections happen all the time. Still, I don’t expect a big drop. We are not in such a period. As I said, putting just 1 to 3 percent of the older generation, which has a fortune of $85 trillion, into Bitcoin could bring a huge rise. This rate amounts to close to 2.5 trillion dollars. “I think the record will be broken in a short time.”
It was published:
Source: https://uzmancoin.com/bitcoin-galaxy-mike-novogratz-bloomberg/
