Galaxy Digital CEO Michael Novogratz recently explained in an interview with Bloomberg TV why the price of Bitcoin is expected to "increase significantly". His bullish prediction depends on the possible approval of the first US spot Bitcoin ETF by the US SEC.
Novogratz explained: “Bitcoin will usher in a number of positive things, including the upcoming ETF, and the industry has high expectations for this. Some of these are already reflected in the price.” He also said that when the announcement of the spot Bitcoin ETF launch is actually At the time of the announcement (which Novogratz believes is still two months away from trading), BlackRock, Ark, Fidelity, and his own firm will "use their sales power to convince people to adopt Bitcoin."
Novogratz also emphasized that BTC prices will rise significantly, especially with the possibility of the Federal Reserve cutting interest rates, and believes that Bitcoin may reach all-time highs by this time next year. (Bitcoin.com)