Galaxy Digital CEO Mike Novogratz said in mid-May that he was “praying for four things” that he believed would raise crypto prices.
The crypto billionaire now say he hadn’t expected to see so much progress on his wish list in such a short time.
“Eight weeks ago I prayed for four things that could help crypto prices:
1) Pause fed
2) Ripple wins lawsuit
3) Bitcoin ETF (Exchange Traded Fund)
4) Binance/CZ (Changpeng Zhao) settles with FBI.“
His list included the US Federal Reserve pausing its rate hikes, Ripple winning its lawsuit with the Securities and Exchange Commission (SEC), the creation of a Bitcoin (BTC) spot exchange-traded fund (ETF), and Binance and its CEO Changpeng Zhao reaches a settlement with the US government.
Novogratz continues,
“I didn’t expect so much progress on at least three of my four wishes. Fed will raise one more time and then pause. Ripple win should push Biden/Gensler to the table [Republicans] getting legislation done. ETF is when not if. No insight into Binance yet, but I’m still praying.”
Last week, in an interview with CNBC, Novogratz predicted that Bitcoin would end the year at a higher price level.
“I think so [Bitcoin] ends the year higher. We’re consolidating between $28,000 and $32,000.
I think if you take the top off [around $31,500], we will have a nice lead. That could be when the Fed really pivots and flinches.
Bitcoin is trading at $29,913 at the time of writing. The top-ranked crypto asset by market capitalization is down more than 1% in the past 24 hours.
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Featured image: Shutterstock/Eky Rima Nurya Ganda