Bitcoin proponent Novogratz said Bitcoin would end the year at a significantly higher price.
Mike Novogratz, the CEO of Galaxy Digital Holdings, has made positive end-of-year predictions for Bitcoin (BTC).
“It wouldn’t surprise me to see crypto significantly higher by the end of the year,” the billionaire cryptocurrency investor made the assertion today during Galaxy’s earning call as published by Bloomberg.
Novogratz stated that following the widespread adoption of the world’s largest cryptocurrency, the surging volume of trades, and the innovative tech he has seen so far, he is now more constructive about the crypto market than he has been in previous years.
“Given the adoption cycle I’m seeing, given the way markets trade, and how I see new people wanting to get in, the innovation we’re seeing in web3 and the metaverse space, I’ve gotten more constructive than I was at the beginning of the year,” Novogratz added.
While the Galaxy Digital boss did not put a particular price for the top asset class in his latest prediction, Novogratz already noted previously that Bitcoin could rise as high as $50,000 for the year.
Meanwhile, Bitcoin, which looked set to reclaim the $50,000 price level in the previous days, has fallen 2.9% in the last 24 hours.
At press time, Bitcoin is changing hands at $45,891, down by 33.6% from its all-time high (ATH) of $69,044.
Novogratz is among the billionaire Bitcoin investors who have continued to show faith in the world’s largest cryptocurrency.
Earlier this year, Novogratz made a $1 million bet with popular gold proponent Peter Schiff, in favor of Bitcoin trading above $35,000 as opposed to the negative predictions from the traditional financial investor.
Novogratz said the $1 million will be sent to any charity of their choice when BTC price falls below $35,000 by year-end.