Famous billionaire expects a big rise for BTC and ETH

Galaxy Digital CEO Mike Novogratz said that the two largest cryptocurrencies could surpass all-time highs as institutional investors begin to allocate capital for cryptocurrencies.

Speaking to #CNBC , the famous billionaire noted that the inadequacy of the US government's moves to protect the budget is a positive development for the cryptocurrency industry.

Underlining the danger of high inflation and lower interest rates, Novogratz pointed out that a parabolic movement could occur if corporate companies allocate a small portion of their portfolios to #Bitcoin and Ether.

“I've been to D.C. (Washington) a lot in the last four months. I wouldn't be so bullish on Bitcoin if I had faith that we could get a Simpson Bowles to balance the budget or be fiscally prudent.

“If people start shifting 1 percent of their portfolios and corporates start shifting 1 percent of their portfolios to crypto, there won't be much supply in #BTC and #Ether .”

Simpson Bowles was a package designed to close the budget deficit in 2010.

Novogratz finally stated that it would not surprise him if Bitcoin rose to the ATH level.

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