Mike Novogratz. Source: A video screenshot, Youtube\/Bitcoin Magazine.<\/figcaption><\/figure>\n\u00a0<\/p>\n
Bitcoin (BTC) is \u201ctrading really well\u201d considering the recent interest rate hikes in the US, and once the Federal Reserve<\/strong> (Fed) puts its tightening on pause, bitcoin is \u201cgoing to the moon,\u201d Galaxy Digital<\/strong> CEO Mike Novogratz said.<\/p>\nSpeaking in a fireside chat with the BTC advocate and investor Anthony \u201cPomp\u201d Pompliano at the Bitcoin 2022<\/i> conference in Miami on Wednesday, Novogratz said bitcoin\u2019s recent performance has impressed him, considering macro headwinds such as the Fed\u2019s interest rate hikes.<\/p>\n
\u201cI think bitcoin has traded amazingly well,\u201d Novogratz said.<\/p>\n
He added that he believes Fed Chairman Jerome Powell has \u201crealized he was behind the curve,\u201d and warned that he will likely be \u201cvery hawkish\u201d for a while. Powell has a reputation that he wants to keep, Novogratz said.<\/p>\n
\n\u201cOnce the Fed pauses, I think bitcoin is going to the moon,\u201d the investor added.<\/p>\n<\/blockquote>\n
Further, Novogratz also said about bitcoin that \u201cit is far more important outside of the US than it is inside the US.\u201d He argued that while the US dollar has remained \u201cfairly stable\u201d for a long time, the same cannot be said about the local currencies in Russia, Turkey, and other places.<\/p>\n
However, he also noted that the goal from his perspective is not to replace the dollar with bitcoin. Instead, for investors, the focus should be to keep some of their wealth stored in BTC, he said.<\/p>\n
Asked how high bitcoin will ever go, Novogratz replied \u201ca million dollars.\u201d<\/p>\n
\n\u201cI pray that the dollar stays strong and bitcoin doesn\u2019t go to infinity. If bitcoin goes to infinity, it would mean all stability is gone in the West,” Novogratz told the audience.<\/p>\n<\/blockquote>\n
At 15:59 UTC, BTC trades at USD 44,138 and is down almost 4% in a day. It jumped almost 15% in a month, trimming its annual losses to less than 25%.<\/p>\n<\/oembed><\/figure>\n____<\/strong> – Game Theory of Bitcoin Adoption by Nation-States – \u2018New Inflationary Era\u2019 Upon Us, Central Bank Action Will be Unpopular \u2013 BIS\u2019 Carstens Warns<\/p>\n– War in Ukraine to Make Countries Rethink Currency Dependencies – BlackRock CEO – The Ukraine War: How Russia\u2019s Aggression Affected Bitcoin & Crypto and What Might Happen Next<\/p>\n
– Fed Can\u2019t Stop Prices From Going Up Anytime Soon, But There\u2019s Good News, Too – Freezing Russian Reserve Assets Marks End of Monetary Regime; Gold, Bitcoin to Rise \u2013 Arthur Hayes<\/p>\n
– Crypto Bottom is In and \u2018Massive Rally\u2019 Awaits, Pantera Capital Predicts – Hayes Says He Aims to Rebalance Portfolio in Favor of Ethereum, Sets New Price Target for ETH<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
Mike Novogratz. Source: A video screenshot, Youtube\/Bitcoin Magazine. \u00a0 Bitcoin (BTC) is \u201ctrading really well\u201d considering the recent interest rate hikes in the US, and once the Federal Reserve (Fed) puts its tightening on pause, bitcoin is \u201cgoing to the moon,\u201d Galaxy Digital CEO Mike Novogratz said. Speaking in a fireside chat with the BTC […]<\/p>\n","protected":false},"author":1,"featured_media":10404,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"footnotes":""},"categories":[43],"tags":[],"class_list":["post-10403","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-nft"],"yoast_head":"\n
Once the Fed Pauses, Bitcoin is \u2018Going to the Moon,\u2019 Novogratz Says | NFT & Crypto News<\/title>\n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n\t \n\t \n\t \n