Billionaire Mike Novogratz says Bitcoin (BTC) is gearing up for a huge upside as bullish catalysts emerge.
In a new interview on Bloomberg Television, the CEO of crypto asset manager Grayscale says the top crypto assets by market cap are preparing for a “beautiful story.”
According to Novogratz, the creation of BTC Spot Market Exchange-Traded Funds (ETF), the upcoming Bitcoin halving, and the actions of the Federal Reserve are major catalysts that could lead to the king crypto matching or even going beyond its all-time high. time next year.
“A lot of good things are happening for Bitcoin. We’re going to buy an ETF, there’s a lot of expectation, some of that is built into the price. When you actually get the ETF announcement, it will probably be another two months before trading starts, and once trading starts, we’ll see.
Like BlackRock and ourselves [and] Invesco and Ark and all these other institutions, Fidelity, have their sales forces to convince people to adopt Bitcoin. The price will be significantly higher, especially at a time when the Fed is likely to cut interest rates. And so, could we be hitting old highs this time next year?
Of course we can, and we can go higher, we’ll see. You have to remember that prices are set on margin and there are not that many sellers of Bitcoin. Next year the halving will take place, which means that the daily supply or inflation will be halved, so you are really in for a wonderful story.”
Bitcoin is trading at $38,813 at the time of writing, a gain of 2.93% over the past 24 hours.
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