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Galaxy Digital CEO: It is recommended to invest 2% to 3% of personal net worth in Bitcoin
As the price of Bitcoin continues to test the support level of around $19,000, Mike Novogratz, founder and CEO of Galaxy Digital, suggests holding Bitcoin until 2025.
In a live interview with Yahoo Finance released on Wednesday, Novogratz stated that the current rise in Bitcoin (BTC) is being driven by institutions and well-known investors “slowly entering this field.” He mentioned that companies such as PayPal and Square have recently adopted cryptocurrencies, and billionaire Stanley Druckenmiller recently stated that the return on digital assets may exceed gold.
Novogratz said: “Bitcoin has become a macro asset that can hedge against the devaluation of legal tenders in the United States and other countries. Everyone should invest 2% to 3% of their net worth in Bitcoin. In another 5 years, Bitcoin’s The value will be much greater.”
The CEO stated that he believes that the volatility of crypto assets will continue to exist, but the price of Bitcoin is unlikely to “fall below $12,000 again.” Last week, in response to British actress Maisie Williams on Twitter, he stated that due to insufficient supply and “a large number of new buyers”, Bitcoin will eventually reach $65,000.
In 2018, Novogratz founded Galaxy Digital, a large crypto venture capital firm. Today, he is considered one of the largest investors in the field of cryptocurrency and blockchain. The CEO has always been optimistic about the price of Bitcoin, and he predicts that by the end of this year, Bitcoin assets will reach $20,000.