Novogratz: „Everyone should invest 2 to 3 percent of their assets in Bitcoin“.
In just five years‘ time, crypto-savings will „be worth a lot more“, according to Galaxy Digital CEO Mike Novogratz.
In light of the recent surge of Bitcoin (BTC), Galaxy Digital CEO Mike Novogratz recommends investors to hold on to their crypto assets at least until 2025.
In an interview with Yahoo Finance on Wednesday, Novogratz explained that the current upward trend of the market-leading crypto currency BitQT is being driven by institutional investors and major private investors, who are, however, only „slowly entering the market“. In this context, he refers to the two major payment service providers PayPal and Square, who are now investing in Bitcoin, and the billionaire Stanley Druckenmiller, who recently even said that the crypto market leader is better than gold.
„Bitcoin has become a macro-level hedging tool that is seen both in the US and the rest of the world as a hedge against the devaluation of fiat currencies,“ Novogratz explains. He concludes from this:
„Everyone should invest 2 to 3 percent of their private wealth in Bitcoin, and only access it again in five years‘ time, by which time it will be much more valuable“.
Maisie Williams on Twitter that Bitcoin would eventually climb
While the CEO of Galaxy Digital expects Bitcoin to continue to fluctuate in price, he believes it is unlikely that it will „go back below $12,000“. Last week, he told English actress Maisie Williams on Twitter that Bitcoin would eventually climb to $65,000, citing the shortage of the crypto currency on the one hand and „lots of new buyers“ on the other.
The crypto investment company Galaxy Digital was founded in 2018 by Mike Novogratz and is now one of the biggest players in the crypto industry. Accordingly, Novogratz is considered one of the most important investors for crypto and blockchain. In the past, the Galaxy CEO has repeatedly expressed optimism about Bitcoin, predicting a new record high by the end of 2020.