Mike Novogratz: Bitcoin Will Hit $500K
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Mike Novogratz, founder of Galaxy Digital, has maintained his previous forecast according to which the BTC price will hit $500,000 in the future.
He believes it will now take more than five years for Bitcoin to reach the goal due to significant changes in the macroeconomic situation.
According to him:
“The reason Bitcoin fell from $69,000 to $20,000 is Fed Chairman Jerome Powell’s decision to find central bank superpower and start fighting inflation with a series of 0% to 4% key rate hikes.”
He claims that for this reason all assets considered inflation hedges have fallen in price.
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