The CEO of Galaxy Digital, Michael Novogratz, expects Bitcoin to top its $ 20,000 maximum within 18 months.
Novogratz was a guest of the US nationwide CCN, claiming that Bitcoin is likely to stay above the $ 6,000 prize, with another goal of $ 10,000.
But as far as other cryptocurrency toms are concerned, he thinks they won't go up that fast. "Other coins ... Ethereum is the second largest, then Ripple ... must prove they are useful, right?"
Novogratz noted that of the 118 elements present on the periodic table, only gold is referred to as the value holder. This is in line with what he said in February when he said that Bitcoin will take a unique place in the cryptocurrency sector and that it will be a digital gold, a place where you have sovereign money.
He admitted that there are other valuable elements, such as the copper we value because we use it. Like copper, altcoins must prove to be useful. This means that the teams behind them need to get people into their community, get the right developers and programmers to bring a product that will be of real value.
Novogratz was also asked about the current worrying market turmoil in connection with Binance's hack. There is no doubt that the case of Bitfinex and Tether, which is being investigated by the New York Public Prosecutor's Office. The owner of most Galaxy Digital shares admitted that people should be a little worried, but noted that even the biggest cryptocurrency currently have only a limited amount of cryptocurrencies stored on "hot wallets", and no investor has lost their money.
He also noted that Bitcoin was virtually unresponsive to these bad news and continued to rise in price. This is a clear signal that the bull market is already here. Finally, he responded to the words of economist Nouriel Roubini, who said that cryptocurrency are the mother and father of all the bubbles: "The discussion is over, Bitcoin won." Now people around the world see him as a legitimate place to store their value. "
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