When Bitcoin At $500,000? Novogratz Says Five Years

Name	Symbol	Market	Market Cap ($)	Algorithm
Secret	SCRTUSD	Crypto	105,584,345	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Secret

SCRTUSD

Crypto

105,584,345

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-0.0194	-4.75%	0.3891	0.3884	0.3896

Price Change

Price Change %

Current Price

Bid Price

Offer

-0.0194

-4.75%

0.3891

0.3884

0.3896

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.411	0.3891	0.4085	0.4085	0.215000 - 0.862500

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.411

0.3891

0.4085

0.215000 - 0.862500

Exchange	Last Trade	Size	Trade Price	Currency
KRKN	11:51:12	52.72	0.3891	USD

Exchange

Last Trade

Size

Trade Price

Currency

KRKN

11:51:12

52.72

0.3891

USD

Price x Volume	Volume	Base Symbol	Related Pairs
32,898.06	82,646.13	SCRT	SCRTEUR	SCRTGBP	SCRTBTC

Price x Volume

Volume

Base Symbol

Related Pairs

32,898.06

82,646.13

When Bitcoin At $500,000? Novogratz Says Five Years

17/03/2022 11:00pm

NEWSBTC

Bitcoin is still trading above $40,000. A long way from where it’s coming from, also a long way from where it’s expected to go. A lot of prominent figures in the space continue to make their predictions for the leading cryptocurrencies public with quite optimistic forecasts. The latest in this line of predictions is Galaxy Digital CEO Mike Novogratz, who has put the digital asset at a $500,000 value. Bitcoin In Five Years In a recent interview with Bloomberg Technology, Mike Novogratz shared some interesting thoughts around bitcoin and other cryptocurrencies. It is no secret that the Galaxy Digital CEO is an ardent supporter of the digital asset which he has been vocal about in the past. This is why his predictions for the cryptocurrency come as no shock given his previous bullish stance. Related Reading | Former Facebook Employees Get $200 Million To Create Blockchain System For Aptos Novogratz told Bloomberg Technology that he expected to see the digital asset hit as high as $500,000 in the coming years. Putting it on a closer time frame, the CEO explained that he expects to see this happen within the next five years. He explained that more people are going to begin moving to the digital asset to get away from the dollar a bit. “The whole world is not going to flip to bitcoin overnight but you’re going to see more and more people say ‘I want to have some of my money outside of the sovereign.’” Most Cryptocurrencies Will Die Out Novogratz also touched on the controversies that surround bitcoin and the crypto market at large where people believe that it can be used to circumvent government sanctions. Speaking in relation to the current Russian-Ukraine crisis, he explains that “there is zero chance that the Russian government can use cryptocurrencies to circumvent.” BTC breaks $41K | Source: BTCUSD on TradingView.com The CEO explains that the regulations that govern crypto exchanges through which most cryptocurrencies move would not allow this since most require KYC verification to use. Coupled with the fact that bitcoin is a public blockchain, it makes it an ineffective way of actually using it to circumvent government sanctions. Related Reading | Small Cap Altcoins In The Green In Pre-Spring Crypto Surge As for the thousands of cryptocurrencies in the market, Novogratz does not see the majority of them going anywhere. He explained that a good chunk of this, about 75%, would die out due to ongoing regulations targeted at the space. Galaxy Digital Holdings is the public company with the fourth-largest BTC holdings in the world. The company holds more than 16,400 bitcoins valued at over $670 million. Featured image from Institutional Investor, chart from TradingView.com

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