Billionaire Bull Mike Novogratz Speaks and Warns for the First Time After $100,000 in Bitcoin!

Bitcoin As it reached the $100,000 mark, Galaxy Digital CEO Mike Novogratz evaluated this milestone and warned investors about the risks of high leverage in the cryptocurrency market.

“What a week it’s been. “100 thousand dollars is a big moment for this field and a proof of its growth,” said Novogratz, adding that Bitcoin’s rise in the global financial environment is important. He likened the evolution of Bitcoin to the digital gold of the new generation: “From an initial idea of ​​payment, it has evolved into a store of value, digital gold.”

Novogratz noted that Bitcoin has reinforced its role as a store of value that fluctuates with market sentiment: “It will go up when people want it to. “It will fall when people say we don’t need it.”

Despite Bitcoin’s significant growth, Novogratz sounded the alarm about the current state of the market. “There is a craze for buying Bitcoin all over the world right now. “Bitcoin is one of the first global assets,” he said.

However, he warned of excessive leverage, noting that funding costs for long positions were “the widest he has ever seen.” He said it was important to remain disciplined, warning that high leverage could lead to sharp corrections:

“There will be at least one or two harsh retreats that will test one’s emotions. “When you have that much leverage in a system, it breaks it down.”

Novogratz encouraged investors to maintain discipline and take profits during Bitcoin’s rise. “Be sharp. Leverage is very high and basis spreads are the widest I have ever seen. Eventually, there will be pullbacks before moving higher. “Don’t forget to take profits along the way,” he said.

While Novogratz remained optimistic about Bitcoin’s trajectory, he also acknowledged the volatility inherent in a leveraged market. Asked whether the rally would continue throughout the year or into the next administration, he expressed cautious confidence: ”Could it last until Trump’s Inauguration? “I guess so.”

*This is not investment advice.