Mike Novogratz: Bitcoin Bull Run On First Base In First Inning
Early days! Early days, I tell you! $30,000+ is a drop in the bucket compared to where this thing is headed, we have only begun:
Bitcoin Bull Run on First Base in First Inning, Says Galaxy Digital’s Mike Novogratz
The CEO of the crypto management firm Galaxy Digital says Bitcoin’s current bull cycle has barely begun.
In a new interview with Currency.com, Mike Novogratz says he expects other large insurance companies like MassMutual, which recently invested $100 million into BTC, to follow suit – pushing the price to as high as $150,000 in 2022.
“There’s scores of insurance companies. They’re all going to come. We’ve got a couple big asset managers only. One guy bought $600 million yesterday. I was talking to him. He’s like, ‘Well how far are we ahead or behind?’ I was like, ‘You’re on first base in the first inning.’
So we’re going to see these movements in these institutional buckets over the next couple years. I think $50,000 this year may be easy and $100,000 or $150,000 the next. That’s just as the money moves in.”
Novogratz says he also expects younger generations to continue to lead the way among retail investors and make an even larger impact once baby boomers begin shifting wealth to their kids.