Home CryptoBitcoin Prediction: Bitcoin Explodes to $500,000

#crypto #bitcoin

$BTC

Galaxy Digital founder and CEO Mike Novogratz is still optimistic that Bitcoin (BTC) will hit a price of half a million dollars.

When asked on Bloomberg if BTC can hit $500,000 over the next first years, Novogratz answered, “I do, I do.”

According to Novogratz, there are institutional investors who now view Bitcoin as an “opportunity” amid the downturn in the crypto market.

“While this is a bump in the road in adoption it’s certainly not a U-turn.

We continue to see institutions in Europe, the Middle East and the US who haven’t gotten involved yet looking at this as an opportunity.”

The Galaxy Digital CEO says that due to the risk of high inflation persisting, hard assets such as Bitcoin are set to “win” as stores of wealth.

My point is you take a longer view, how do you get 140% debt-to-GDP [gross domestic product] and forget what it is in Japan and Europe back to sustainable levels without bankrupting your grandkids? The only way you do it. There’s only one way is inflating your way out. And so hard assets are going to win.

Now, Bitcoin is not the only hard asset. Gold, real estate, REITS [real estate investment trusts]. There are plenty of hard assets you should have in your portfolio. But Bitcoin is a unique one and it is gaining adoption…

There will be a generation of people that really believe in this that are convincing their friends and their communities and their institutions that this is a good way to store wealth.

It is very unique and are only 21 million Bitcoin that will ever be made. It is tailor-made to being an anti-inflationary store of value. It is easily transferable. And so it’s better than gold in so many ways…

Gold is only valuable because we say it’s valuable. It’s the same way Bitcoin is happening and it’s happening because of the network effect of the internet of community, of how fast information goes.”

A tip of my hat to sovereign individuals with satoshis and Bitcoin in cold storage with our firm. Click here

Check Price Action

Have a prosperous day, Keep the Faith!

You may also like

logo-white

Your Trusted Source for Capital Markets & Related News

© 2023 LiveTradingNews.com – For The Traders, By The Traders – All Right Reserved.

The information contained on this website shall not be construed as (i) an offer to purchase or sell, or the solicitation of an offer to purchase or sell, any securities or services, (ii) investment, legal, business or tax advice or an offer to provide such advice, or (iii) a basis for making any investment decision. An offering may only be made upon a qualified investor’s receipt not via this website of formal materials from the Knightsbridge an offering memorandum and subscription documentation (“offering materials”). In the case of any inconsistency between the information on this website and any such offering materials, the offering materials shall control. Securities shall not be offered or sold in any jurisdiction in which such offer or sale would be unlawful unless the requirements of the applicable laws of such jurisdiction have been satisfied. Any decision to invest in securities must be based solely upon the information set forth in the applicable offering materials, which should be read carefully by qualified investors prior to investing. An investment with Knightsbridge is not suitable or desirable for all investors; investors may lose all or a portion of the capital invested. Investors may be required to bear the financial risks of an investment for an indefinite period of time. Qualified investors are urged to consult with their own legal, financial and tax advisors before making any investment. Knightsbridge is a private investment firm that offers investment services to Qualified Investors, Members and Institutions ONLY. Qualified Investors are defined as individuals who have met those Qualifications in the relevant jurisdictions. Members are defined as individuals who have been accepted into the Knightsbridge membership program. Institutions are defined as entities such as banks, pension funds, and hedge funds. If you are not a Qualified Investor, Member or Institution, you are not eligible to invest with Knightsbridge. All investments involve risk, and there is no guarantee of profit. You may lose some or all of your investment. Past performance is not indicative of future results. Knightsbridge is not a registered investment advisor, and this disclaimer should not be construed as investment advice. Please consult with a qualified financial advisor before making any investment decisions. By accessing this website, you agree to the terms of this disclaimer. Thank you for your interest in Knightsbridge.