Bitcoin Could Surge to $500,000 if US Adopts BTC As Reserve Asset, Says Billionaire Mike Novogratz – Here’s Why

Galaxy Digital CEO Mike Novogratz predicts the potential worth trajectory of Bitcoin (BTC) if the incoming administration of newly elected President Donald Trump adopts the crypto king as a strategic reserve asset.

In a Bloomberg interview, Novogratz says Bitcoin might rise greater than 400% from present ranges if the US builds up a strategic BTC reserve, as Republican Senator Cynthia Lummis of Wyoming promised shortly after Trump gained the presidential election.

[03:44] “…if we get the Bitcoin reserve and as a man who owns a whole lot of Bitcoin, I will not cry. And should you see me cry, they will be crocodile tears. I believe Bitcoin is heading in direction of $500,000.”

Bitcoin is buying and selling at $88,060 on the time of writing.

In line with Novogratz, the potential adoption of Bitcoin as a reserve asset by the US might have a ripple impact worldwide.

“…it is a fully completely different paradigm as a result of it forces each different nation and international locations are already shopping for. And I’ve a pricey buddy, the person who launched me to Bitcoin in 2013 and who’s now within the Center East. And he mentioned he had by no means seen something prefer it. He convinces extra folks to purchase Bitcoin within the three days he is been there than he ever has in his total profession. And they’re enormous swimming pools of capital. And so we see one thing international.

When Trump advocated in Nashville that he can be a crypto president, a Bitcoin president, and now he is the president, I can inform you that different leaders heard that. And so I believe we’re making ready for what may very well be an awesome rally.”

Nevertheless, the CEO of Galaxy Digital says there’s little probability the US will undertake Bitcoin as a reserve asset.

“I do not essentially suppose the greenback wants something to help this. We have now the strongest army on the planet. We have now the dominant financial system on the planet and the reserve foreign money we’ve earned. And it’s counterintuitive to should help a reserve foreign money.”

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