Mike Novogratz, an American investor and billionaire, says he is much more optimistic about the cryptocurrency market now than he was a month ago. The current CEO of Galaxy Investment Partners explained that bond sell-offs and increased crypto adoption have boosted cryptocurrency prices, particularly bitcoin.
Explaining why he is more optimistic now about Crypto than he was six to seven weeks ago, he said that maybe what he got wrong about making money in fixed currency was that money has to go somewhere.
He also prophesied earlier this month, when BTC was struggling to push through the $40,000 barrier, that bitcoin's price would range somewhere around $30,000 and $50,000 for the rest of the year.
According to Bitcoin.com Markets, bitcoin is currently trading at $47,327 at the moment of writing. He further explains that the adoption of crypto is fast increasing and will only continue to increase
He then commented on President Joe Biden's executive order on cryptocurrency regulation. "It was very interesting in that presidential decree because there was no Elizabeth Warren's or Gary Gensler's voice in that thing, and they'd been running crypto policy until then." "That's a plus," Novogratz said. Many in the crypto space share his optimism, viewing Biden's executive order as beneficial to the crypto space.
In summary, more personalities are beginning to see the benefit of crypto. It not only posses financial benefits, it also possesses Environmental benefits by reducing the use of cash.
With all these it should be noted that crypto is still in its early stages and with cryptos like $Darc and $Polygon recently arriving on crypto marketplaces, it is clear that crypto is the future of finance and we can only witness Blockchain reach greater heights.
[link] [comments]
source https://www.reddit.com/r/btc/comments/tty0sr/billionaire_mike_novogratz_has_called_for_a/
Comments
Post a Comment