Mike Novogratz drops a new Bitcoin prediciton. There have been a lot of predictions about the price of the king coin lately, and most of them have been pretty bullish.
Bitcoin is suffering a strong correction, and at the moment of writing this article, BTC is trading in the red, and the coin is priced at $43,859.84.
Mike Novogratz is bullish about the price of Bitcoin
Mike Novogratz pushed up his bullish price prediction for Bitcoin. It’s been just revealed that in a Bloomberg Technology interview, Novogratz shares that he’s witnessing the rising interest of big and institutional investors in the king coin.
“We started seeing one group of investors after another. It was corporates with Square and MicroStrategy, and Tesla. It was insurance companies with Mass Financial and others. It’s high-net-worth individuals. It’s ETFs (exchange-traded funds),” he said.
He continued and pointed out that “All of a sudden, we went from a world where buying Bitcoin was kind of fringy or risky to not having it being risky right to not having this part of your portfolio in a world of central banks printing money. Our business at Galaxy is booming. We can’t hire salesmen fast enough to cover all the institutional accounts that want to either understand it or participate.”
As you probably know by now, more and more institutions embrace the king coin, and the Bitcoin bull predicts that the price of the BTC will more than double and hit $100,000 by the end of 2021.
“It feels like we’re going to consolidate a little bit here in this $50,000 area, caught [between] $42,000 to $60,000, but then the next big leg is up to $100,000, and that wouldn’t surprise me at all if we crack a hundred by the end of the year.”
Check out the video above in order to learn more about what he had to say.
More investors are freaking out at the moment due to the price drop of the king coin. Stay tuned for more news.