Galaxy Digital CEO: Bitcoin will usher in many benefits and is expected to rise to historical highs next year

Bitget App

Trade smarter

Cointime2023/12/02 14:33

By:Cointime

Galaxy Digital CEO Michael Novogratz recently explained in a Bloomberg TV interview the reasons why Bitcoin prices are expected to "significantly rise", with his bullish forecast depending on the possibility of the US SEC approving the first US spot Bitcoin ETF.

Novogratz explained: "Bitcoin will usher in a number of positive factors, including the upcoming ETF, which the industry has high expectations for. Some of these have already been reflected in the price." He also said that when the announcement of the launch of the spot Bitcoin ETF is actually announced (Novogratz believes it will take two months before trading begins), BlackRock, Ark, Fidelity, and his own company will "use their sales force to convince people to adopt Bitcoin".

Novogratz also emphasized that BTC prices will rise significantly, especially in the event of a possible rate cut by the Federal Reserve, and believes that by this time next year, Bitcoin may reach its historical high. (Bitcoin.com)

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.

APR up to 10%. Always on, always get airdrop.

Lock now!

With one year in the books, spot bitcoin ETFs have generated over $660 billion in trading volume.After amassing over $50 billion in assets under management (AUM) in the past year, BlackRock’s IBIT fund emerged as the clear leader among spot bitcoin ETFs.Bitcoin’s standing as an accepted asset class took on new shape thanks to the new financial instruments.

The Block•2025/01/11 16:22