Galaxy Digital CEO Michael Novogratz made remarkable statements after the approval of spot Bitcoin ETFs.
Michael Novogratz after US approves spot Bitcoin exchange-traded fund (ETF) applications CNBC appear on television and talk about the issue spoke.
Novogratz spot Bitocin ETFs Revolutionary for both institutional and individual investors While implying that it is a product, he emphasized that there is an ongoing battle between Invesco, Fidelity and BlackRock for customers.
Stating that the Bitcoin ETF sector has turned into a new trend, the experienced name said that in the future, There will be more demand in this field predicted.
CNBC anchor said “Early investors in Bitcoin made rich but now the price is over $47k and I think it’s too late to investNovogratz maintained his clear stance and stated that Bitcoin could reach higher prices in the coming period.
A limited asset, indicating that the US economy is rapidly crashing and the dollar is losing value. Bitcoin will inevitably become much more valuable noted. On the other hand, after the ETF approval news serious volatile price movementsStating that it can be knitted, the experienced name warned investors to be careful.
Novogratz in the short term April expected to occur in Bitcoin halving He argued that it could even have a significant positive impact on the price:
As the US economy goes down and the dollar loses value, Bitcoin, a limited asset, will inevitably become even more valuable. Some people see Bitcoin as a religion and never sell it. As more adaptation and adoption is achieved, we will witness the price rise. However, the halving that will take place a few months later may also trigger an upward momentum on the price.