Galaxy Digital CEO Mike Novogratz doesn’t see Bitcoin slowing down any time soon and predicts its value could reach up to $500,000 within the next five years. However, he foresees 75% of total cryptocurrencies disappearing due to the ongoing regulations.
During an interview with Bloomberg Technology, Novogratz detailed that decentralized systems will replace traditional finance, and the cryptocurrency ecosystem will represent a new way of investing.
Novogratz believes Bitcoin will serve as a lifeline for people who don’t trust their government or don’t want to rely on their local currency. He is optimistic about the future of cryptocurrencies, despite the slump in value.
After a long career in finance, Novogratz became the CEO of Galaxy Digital in 2017, and just one year later, he became one of the richest crypto millionaires in the world. Today, Galaxy Digital holds a market cap of $5.78 billion and $3 billion in assets under management.
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