Michael Novogratz: Bitcoin Reserve Could Push Price To $500,000, But Likelihood Is Low
Posted On November 13, 2024
Galaxy Digital CEO Michael Novogratz on Wednesday discussed the prospect of Bitcoin (CRYPTO: BTC) reaching unprecedented price levels if adopted as a reserve asset by nations, although he acknowledged the probability of this scenario remains low.
What Happened: Novogratz, in an interview with Bloomberg said, “I think it would be very smart for the United States to take the Bitcoin they have and maybe add some to it.”
However, he maintained that the possibility of such a strategic move is limited, particularly with a divided Congress.
If countries were to adopt Bitcoin as a reserve, Novogratz believes the impact on the asset’s value could be …
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