Galaxy Digital chief called the timeline for bitcoin to rise in price to $500 000

Mike Novogratz stated that bitcoin adoption is going faster than the development of internet technologies in the 1990s

17.03.2022 - 14:40

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What’s new? Galaxy Digital CEO Mike Novogratz has predicted a tenfold increase in bitcoin over the next five years. He voiced this opinion in an interview for Bloomberg. Novogratz said that BTC will fluctuate at the range of $30 000 - $50 000 by the end of this year, but in five years its price will reach $500 000.

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What did Novogratz say in the interview? According to the Galaxy Digital CEO, the adoption of bitcoin in 2021 happened faster than the adoption of internet technologies in the 1990s. Mike Novogratz also stated that the recent decision of the US government and its allies to freeze the assets of the Russian central bank will benefit BTC and other digital currencies.

What preceded it? Over the year 2021, bitcoin rose in value by 63%. In November 2021, BTC renewed its all-time high above $69 000. As of March 17, bitcoin is worth $41 000.

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