{"id":22295,"date":"2023-07-14T14:22:51","date_gmt":"2023-07-14T14:22:51","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-poised-for-growth-as-galaxy-digital-ceo-foresees-potential-breakout\/"},"modified":"2023-07-14T14:22:51","modified_gmt":"2023-07-14T14:22:51","slug":"bitcoin-poised-for-growth-as-galaxy-digital-ceo-foresees-potential-breakout","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-poised-for-growth-as-galaxy-digital-ceo-foresees-potential-breakout\/","title":{"rendered":"Bitcoin Poised for Growth as Galaxy Digital CEO Foresees Potential Breakout"},"content":{"rendered":"

(Originally posted on : Crypto News – iGaming.org )<\/b>
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Mike Novogratz, the founder and CEO of Galaxy Digital, has expressed his belief that the value of the most popular cryptocurrency, Bitcoin, will increase before the end of the year. Following a period of stability between the $28,000 and $32,000 area, Novogratz underlined the Federal Reserve\u2019s possible involvement in sparking a significant price spike for Bitcoin in an exclusive interview with CNBC.<\/p>\n

Novogratz<\/strong><\/a> anticipates a significant rise in the price of Bitcoin after it clears the key resistance mark at $31,500. According to him, this development may coincide with the Fed\u2019s decision to stop raising interest rates and maybe even adopt rate reductions, acting as a driver for the cryptocurrency\u2019s upward trend.<\/p>\n

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Institutional ETF Applications Pave the Way for Bitcoin Adoption<\/h2>\n

Novogratz noted the advantages of the most recent spot Bitcoin ETF applications made by institutional investors, such as market leaders Invesco and BlackRock. According to him, this event marks a big step towards Bitcoin becoming more widely accepted as a genuine asset class.<\/p>\n

Larry Fink<\/strong><\/a>, the CEO of BlackRock, is a prominent figure, and Novogratz acknowledged the significant influence Fink\u2019s support may have on the international financial community. When combined with the ease and security that ETFs provide, Fink\u2019s acknowledgement of Bitcoin as a workable alternative asset makes them an alluring entry point for investors who are wary about custodial issues.<\/p>\n

Novogratz explained, \u201cWhat I do think is BlackRock, Invesco\u2026 the group of ETF providers is a real signal that adoption is coming.\u00a0<\/i>Think about it\u2026 [BlackRock CEO] Larry Fink travels the world talking to the biggest pools of capital, it makes it really easy when he\u2019s out there saying Bitcoin\u2019s an alternative.\u00a0<\/i>And if you\u2019re nervous about who\u2019s your custodian, the ETF is a really easy first step. And it is a first step for a lot of people.<\/i><\/p>\n

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And so I just think if it happens, it\u2019s the seal of approval from the SEC and the US government that this is an asset.\u00a0<\/i>And there is this giant infrastructure because remember it\u2019s not just BlackRock. Like I said, Invesco is bigger in ETFs than BlackRock. And there are many players\u2026 the SEC is not going to approve one. So you\u2019re going to have these giant sales forces out there giving access to people that didn\u2019t have access before.\u201d<\/i><\/p>\n

The CEO of Galaxy Digital thinks that more industry players would compete to give investment options to a wider variety of investors when the SEC approves Bitcoin ETFs rather than just one supplier. At the time of writing, Bitcoin is trading at $31,392.05.<\/p>\n<\/p><\/div>\n

Source link <\/a>
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(Originally posted on : Crypto News – iGaming.org ) Mike Novogratz, the founder and CEO of Galaxy Digital, has expressed his belief that the value of the most popular cryptocurrency, Bitcoin, will increase before the end of the year. Following a period of stability between the $28,000 and $32,000 area, Novogratz underlined the Federal Reserve\u2019s […]<\/p>\n","protected":false},"author":34,"featured_media":22296,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/22295"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=22295"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/22295\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/22296"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=22295"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=22295"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=22295"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}