Billionaire Bitcoin Bull Novogratz: “If Bitcoin Exceeds This Level Next Week, The Year Could Close With $100,000”

Bitcoin-friendly billionaire Mike Novogratz shared his expectations for the Bitcoin price in his statement.

Michael Novogratz, founder and CEO of Galaxy Digital, predicted that Bitcoin could end the year at $100,000 or higher.

Speaking on “Bloomberg Crypto,” Novogratz discussed the current state of the cryptocurrency world and the growth potential of Bitcoin.

Bitcoin is currently in touch with the $70,000 level, which is an important milestone for it. Novogratz believes the crypto world is tilted upward, with more growth potential than risk. He pointed out that the fact that crypto discussions have now become mainstream on platforms such as Bloomberg shows how far the industry has progressed since 2015.

Novogratz also noted the latest developments in crypto legislation. He noted that Washington D.C. has finally agreed in principle that crypto legislation should be implemented and regulated at a bipartisan level.

Bitcoin's popularity was further strengthened by the US government's inability to stop spending money. #Novogratz mentioned the state of Wisconsin's pension fund's recent investment of approximately $140 million in Bitcoin. According to Novogratz, as more pension funds and institutions invest in Bitcoin and there are not too many sellers in the market, the price of Bitcoin is expected to rise.

Novogratz predicts that if Bitcoin surpasses the $73,000 level within the next week, it could end the year around $100,000 or higher. Novogratz explained that markets work by creating ranges, and when the top of the range is broken, there is usually a nice expansion. According to the #CEO , the current range for Bitcoin started around $40,000, so if it breaks $70,000, it could go as high as $100,000