According to Galaxy Digital CEO Mike Novogratz, BTC will grow in value in the long term. The businessman and BTC supporter expressed his forecast in an interview with Yahoo Finance Live.
Novogratz stressed that the rise of cryptocurrency this year was the result of massive capital inflows into this asset from institutional investors.
He emphasized: "Bitcoin has become a macro asset to protect against depreciating fiat currencies both in the US and abroad. Everyone should invest 2% to 3% of their capital in Bitcoin and look at it in five years."
According to the CEO of Galaxy Digital, by 2025, the cost of BTC will be significantly higher than what we are seeing now. However, he claims that market volatility will continue. However, the coin is unlikely to fall below $ 12,000 again.
Novogratz recently announced that the price of BTC could reach $ 20,000 at the end of 2020.
Many other observers also expect the positive trend to dominate in the cryptocurrency market. For example, the founder of TradingAnalysis, Todd Gordon, previously announced on CNBC that the bitcoin rate could rise to $ 74,000 in 2021.