Cryptocurrency investor Mike Novogratz, who once predicted that Bitcoin would reach a value of $500,000 by 2024, stated on Wednesday that he would be the happiest guy if it ends the year at $30,000. He was speaking at a Bank Of America conference.
Bitcoin has lost close to 65% of its worth in 2021, and is currently valued at around $24,792, which is a long way from its peak of nearly $69,000 in November 2021. Despite this, Novogratz remains positive and believes that it is still possible for Bitcoin to reach $30,000 by the end of 2021.
At a Bitcoin Conference in Miami last April, Novogratz reinforced his prediction of cryptocurrency reaching $500,000, and even added that it could eventually reach $1,000,000. At that time, the price of Bitcoin was $44,300.
On Wednesday, Novogratz revised his prediction, stating that $500,000 may not be achieved within the next five years due to Chairman Powell’s interest rate decisions. However, he is still hopeful that this goal will be achieved eventually.
Novogratz is a pioneer investor in Bitcoin and he said that if the cryptocurrency ends the year at $30,000, he will be the happiest guy. It remains to be seen if this goal can be achieved.
Cryptocurrency investor Mike Novogratz, who previously predicted that Bitcoin would reach $500K by 2024, is now content if the digital asset concludes the year at $30K. The billionaire, who’s also a former Bitcoin bull, believes that the Federal Reserve won’t reduce its interest rate anytime soon.
In contrast to Novogratz, other major business figures are not as enthusiastic about the digital asset. Billionaire Mark Mobius recently stated that he expects BTC to drop to $10K at some point in the future. His remarks were echoed by Charlie Munger, Warren Buffett’s right-hand man, who proposed that the US should pass laws that would prevent both cryptocurrency trading and the release of new digital tokens.
Despite his current stance, Novogratz was highly optimistic about the crypto market last year. He even got a tattoo of “Luna” on his shoulder after TerraUSD, a stablecoin he invested in, suffered a complete loss in value.
“It’s a good reminder that you are not always right,” stated Novogratz.
