Mike Novogratz believes that everyone should invest up to 3% of their net worth in Bitcoin and wait five years
„Look at it in five years, and you will see that it is much more,“ Novogratz said.
With Bitcoin’s price constantly testing the level of support near $19,000, Galaxy Digital founder and CEO Mike Novogratz recommends doing „HODL“ (keeping your cryptosystems) until 2025.
Galaxy Digital, by Mike Novogratz, will launch a new Bitcoin fund in Canada
In a live Yahoo Finance interview published on Wednesday, Novogratz said that the current Bitcoin (BTC) rebound is being driven by high-profile institutions and investors that are „slowly entering space. He cited companies such as PayPal and Square embracing cryptomoney, as well as billionaire Stanley Druckenmiller who recently suggested that digital assets could pay more than gold.
„Bitcoin has become a macro asset to protect against trust currency devaluation both here in the United States and abroad,“ Novogratz said. „Everyone should invest 2 to 3 percent of their net worth in Bitcoin and look at it in five years, and they will see that it is much more.
„BitcoinTuesday will be one of the largest cryptomoney donation events in history
The CEO stated that he believed that cryptoactive volatility would continue to be present, but considered it unlikely that the price of Bitcoin would „fall below USD 12,000 again. Last week, in a Twitter response to British actress Maisie Williams, Novogratz said Bitcoin will eventually reach $65,000 due to a combination of low supply and „a lot of new buyers.
In 2018, Novogratz founded Galaxy Digital, a major venture capital firm focused on digital assets and crypto-currency. Today it is known as one of the largest investors in crypto and blockchain. The CEO has often been bullish about the price of Bitcoin, predicting that the asset would reach $20,000 by the end of 2020.
The price of Bitcoin faces this last zone of resistance before reaching USD 20,000
At the time of publication of this article, the price of Bitcoin is USD 18,978, up more than 6% in the last week.