875: BILLIONAIRE MIKE NOVOGRATZ PREDICTS BITCOIN WILL EXPLODE BY OVER 1,100% - HERES WHEN!!

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3.6 • 626 Ratings

🗓️ 17 March 2022

⏱️ 18 minutes

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Summary

Galaxy Digital CEO Mike Novogratz is predicting that Bitcoin could rally by over ten times over in a new Bloomberg interview. Novogratz says the king crypto will range for the rest of this year but will hit a six-figure price in five years as adoption of the flagship cryptocurrency grows. “The whole year I thought we would be at $30,000 – $50,000 range in Bitcoin, risk to the upside [and] not the downside. But I think five years out if Bitcoin’s not at $500,000 I’m wrong on the adoption cycle.” The Galaxy Digital CEO says that in 2021, the adoption of BTC happened at a faster rate than internet technology did in the 1990s. “We see an adoption cycle that accelerates. Bitcoin grew so much faster last year [and] crypto grew [more] than the internet did its best years in the 90s. I see this going viral everywhere. If it’s in the Middle East or in you know pension funds in the United States all getting ready to participate.” Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	In today's show, Bitcoin maintains $40,000 support as Fed confirms rate hike.
0:04.7	In four years, in today's show, I'll be breaking down the latest technical analysis.
0:08.3	And as me, Calvin, they pop shares here.
0:10.0	The good reaction of the market here in which it broke through, $39,600.
0:14.0	Next will be the question of whether we can sweep the $42,000 high.
0:17.3	That would open the gates towards the $46,000 barrier.
0:20.2	Crucial to hold $39600 area. For Bitcoin,
0:23.8	and as Plan B shares here, he unveils a possible scenario where the Bitcoin price skyrockets close
0:28.5	to $300,000 this year. Check it. Bitcoin is 60% below the stock to flow model value. Some think
0:34.1	stock to flow is dead. Others know we have two more years to reach the $100,000 average.
0:38.6	Your choice. And he also shares here, Bitcoin equals 20 ounces of gold since January 2021,
0:43.7	up from five ounces in 2020. Another 4x soon. Send it. And as shared here, the amount of Bitcoin
0:49.2	last moved. More than 10 years ago just hit 2.4 million coins. It's likely most of these coins are lost
0:55.1	forever. As Satoshi said, lost coins only make everyone else's coins worth slightly more. Think of it
1:00.9	as a donation to everyone. Also in today's show, Terra slash Luna founder plans to obtain $10 billion
1:06.3	in Bitcoin for reserves. As he shares here on Twitter, UST with 10 billion plus in Bitcoin reserves will open a new
1:12.5	monetary era of the Bitcoin standard, peer-to-peer electronic cash that is easier to spend
1:17.0	and more attractive to hold.
1:19.1	Also in today's show, breaking news, Ukraine has officially legalized Bitcoin after
1:23.4	President Zelenskyy signed a virtual asset bill into law.
1:29.0	That's right. Ukraine has legalized the crypto sector. From now on, foreign and Ukrainian cryptocurrency exchanges will operate legally,
1:34.3	and banks will open accounts for crypto companies. It's an important step towards the development
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