Billionaire Mike Novogratz, founder of Galaxy Digital and famous billionaire Mike Novogratz, has backed out on his prediction that Bitcoin (BTC) will reach $500,000 in the next 5 years.
Mike Novogratz told Bloomberg that Bitcoin will one day $500,000 will reach, but that It may not happen in 5 years expressed. Known for his fanatical passion for Bitcoin, Novogratz explained the main reason for this change of mind. US Federal Reserve (FED) attributed to the interest policy and attitude.
Still, the billionaire, who did not give up his belief in Bitcoin, said, “some small purchasesto potentially distressing and cheap cryptoassets through thinking of investing he added.
Novogratz first voiced his $500,000 price prediction in July, stating that this would be possible thanks to “increased adoption by the people.” In his statement at the time, he added that if this bullish prediction failed, he would have been wrong about the “adoption cycle” theory as well.