Billionaire Mike Novogratz Says Bitcoin Could Skyrocket ‘Much Higher’ Once BTC Blows Past $100,000 – Here’s Why

The CEO of crypto funding agency Galaxy Digital says Bitcoin (BTC) might rise nicely above the $100,000 stage.

In a brand new interview on CNBC’s Squawk Field, billionaire Mike Novogratz say that Bitcoin’s restricted provide plus rising demand will see the flagship crypto asset gasoline extra rallies after probably reaching the $100,000 mark.

“However , usually you hit $100,000, and also you bounce off of it. I would not be shocked if we go a lot greater. We’re within the enterprise of value discovery. There may be not a lot provide.”

Crypto merchants and analysts name value discovery a state of affairs the place a coin is buying and selling at ranges by no means seen earlier than or in a very long time.

He factors out that when a big amount was offered just lately, it was rapidly absorbed by the US market.

“There had been an enormous vendor this previous week, between $92,000, $93,000 and $94,000, in all probability $14 billion to $15 billion value of Bitcoin offered there. I do know as a result of we noticed the acquisition. Not us personally, however the American market.”

Novogratz additionally says that the November 5 election of pro-crypto Donald Trump as US President is proving to be a significant bullish catalyst for Bitcoin and different digital belongings.

“When Donald Trump was elected, there was a paradigm shift, and it is laborious for us to commerce paradigm shifts. What I imply by that’s 4 years of a really strict regulatory and political setting for individuals on this business, and now it is large open. All the cupboard – nearly – owns Bitcoin and favors digital belongings…

So the individuals round that desk are very professional this house. They’re for innovation. They’re skilled digital belongings. They’re professional Bitcoin. And I believe the remainder of the world must take discover, and we see it.”

Bitcoin is buying and selling at $97,349 on the time of writing, up 3.5% previously 24 hours.

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