- Michael Novogratz, the billionaire founder and CEO of Galaxy Digital, predicts that Bitcoin could reach $100,000 or higher by the end of 2024 if it regains its March high of around $73,000.
- Novogratz cites a more positive political environment and potential government support for digital assets in the US as tailwinds that could drive Bitcoin’s price higher.
- He states that reaching $73,000 in the next couple of weeks would put Bitcoin on track to end the year at $100,000 or above, calling it “a good enough target.”
Michael Novogratz, the billionaire founder and CEO of Galaxy Digital, believes that Bitcoin could reach $100,000 or more by the end of 2024. Political tailwinds and increased government support for cryptocurrencies are creating positive momentum.
Novogratz Predicts Major Price Surge
In a June 4th interview on Bloomberg Television, Novogratz predicted that Bitcoin could surge to $100,000 this year if it reclaims its March high of around $73,000 in the coming weeks. “That is a good enough target,” he stated.
Novogratz sees a friendlier political environment for digital assets in the US as a key driver of Bitcoin’s potential price growth. With Democrats controlling Congress and the presidency, crypto is gaining more mainstream acceptance.
Supportive Regulations Could Attract Institutions
In addition, Novogratz expects more government regulations that support cryptocurrency investing and trading. This regulatory clarity could pave the way for greater institutional adoption.
“I think institutions are slowly, but surely moving towards putting crypto into their asset allocations,” Novogratz noted. As major investors like pension funds and endowments allocate capital to crypto, prices are likely to rise.
Bitcoin Bull Sees Momentum Building
The Galaxy Digital CEO has long been an outspoken Bitcoin bull, predicting it will become “digital gold” and a mainstream asset class.
While Bitcoin remains highly volatile, Novogratz believes the long-term trajectory is up. He sees growing momentum that could propel Bitcoin to new highs by year’s end, assuming key technical levels hold in the coming months.
