Bitcoin price will double in 6 months, says billionaire

According to billionaire investor Mike Novogratz, Bitcoin will double in the next six months and test the $ 20,000 again by the end of the year.

Speaking during CNBC’s Closing Bell program on Thursday night (02), Novogratz was optimistic about Bitcoin. He stressed that, for the first time, high net worth individuals and hedge fund investors are entering Bitcoin.

“This is the year of Bitcoin – if it doesn’t go up now, I don’t know when it will,” said the billionaire.

Novogratz also points to the fact that Bitcoin is a hard asset, just like commodities, and that we are starting to see real flows in it.

For the investor, the trillions of dollars of quantitative easing entering the market shows how unsustainable the current situation is and bitcoin will benefit from it.

“Money doesn’t grow on trees. At the moment, it looks like we’ve crossed the Rubicon, where everyone feels that money grows on trees… I don’t think the FED is doing the wrong thing, it’s just that we are going to degrade the value of the fiat currency (dollar). ”

When asked about concrete figures, he said that Bitcoin should double at least within six months. ”

Mike Novogratz is a former hedge fund manager at Fortress Investment Group. Previously, he was a partner at Goldman Sachs, where he spent a lot of time abroad, including leadership roles in Asia and Latin America.

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