Mike Novogratz Expects Bitcoin to Hit $500K — Says BTC Is a Great Alternative in Economies With Poor Stewardship – Markets and Prices Bitcoin News - BitcoinEthereumNews.com
Galaxy Digital CEO Mike Novogratz says bitcoin is a great alternative and a lifeline to people in countries with poor stewardship of the economy. He expects the price of the cryptocurrency to hit $500K. “We see an adoption cycle that accelerates … going viral everywhere,” he said. Bitcoin Is a ‘Great Alternative’ in Some Economies Galaxy Digital CEO Mike Novogratz talked about the outlook for bitcoin and the U.S. dollar in a couple of interviews this week. “The biggest thing that‘s happened in the last 10 years in lots of ways, maybe longer, is when Europe and the U.S. said: ’Hey Russia, those reserves that you thought were yours, they‘re not really your reserves,’” he told Bloomberg Tuesday. Elaborating on what he meant, the Galaxy Digital executive detailed: It means the dollar or treasuries as a risk-free asset isn‘t so risk free. It’s not risk free if you‘re Russian and maybe if you’re Chinese, it might not be risk free either. “So I think we are entering a world thats unknown where people are going to struggle to figure out what is the reserve currency,” he opined. “The U.S. isn‘t going away. The dollar isn’t going away. But its not going to be the sole place. So