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According to Bloomberg, Mike Novogratz, a well-known figure in the world of cryptocurrencies, predicted that the price of Bitcoin will reach $100,000 or more by the end of the year. This expectation comes in light of a more positive political environment in the United States towards cryptocurrencies. Novogratz made the comments during a recent interview on Bloomberg TV.
In the past few weeks, sentiment toward crypto has become more positive, according to Novogratz. This shift in sentiment is evident in the actions of the U.S. Securities and Exchange Commission, which has taken steps toward approving exchange-traded funds that invest directly in ether. Additionally, political donations supporting pro-crypto candidates have increased, and even presidential candidates have been jockeying for position on crypto.
“I think we’re headed in an uptrend,” Novogratz said. “We’ve kind of reached the finish line. Washington, D.C., has finally agreed in principle that crypto legislation should be passed, and it should be bipartisan.” However, not all recent developments have been positive. President Joe Biden vetoed guidance known as Staff Accounting Bulletin 121, which has drawn criticism from banks since it was published in 2022. Banks say it effectively restricts them from expanding services to hold digital assets on behalf of clients by making it too expensive.
