.novogratz believes that the price of Bitcoin is on track to reach $500,000 in five years
predicted that Bitcoin, the largest cryptocurrency, would hit the $500,000 mark in five years.
Novogratz admits that he will be wrong on the adoption cycle if the flagship coin fails to reach the above-mentioned price milestone.“I see this going viral everywhere,” Novogratz said. The cryptocurrency mogul compared Bitcoin to diamonds and gold since it’s not controlled by the government.Bitcoin’s recent run was propelled by the narrative that the Federal Reserve would “print money forever,” according to the crypto boss. Now that the Fed has turned hawkish, the largest cryptocurrency is in the middle of a bearish trend.reported by U.
Still, there are still some regulatory roadblocks. Novogratz made a case for getting rid of BitLicense, New York’s landmark cryptocurrency regulatory framework. He also took a swipe at the Securities and Exchange Commission for its controversial strategy of regulation by enforcement.
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