Bitcoin Races To $18,500 – Dan Morehead And Mike Novogratz Address Potential BTC Risks

The crypto market is booming today with the most important coins trading int he green.

Bitcoin is no exception, and the king coin is racing to $13,500. At the moment of writing this article, BTC is priced at $18,241.08.

There have been all kinds of optimistic predictions about the price of BTC these days, but there’s also the fear that someday, the US government might ban the digital asset.

Now, two high-profile crypto CEOs are addressing the issue.

They say it’s too late for governments to kill Bitcoin.

Dan Morehead and Mike Novogratz address BTC risk

In a new interview on the What Bitcoin Did podcast, Dan Morehead, the founder of blockchain investment firm Pantera, said that there might have been a time when BTC was vulnerable to an all-out ban from the US, but that time has long passed.

“I think [Bitcoin has] reached escape velocity. There was a time when regulators or even a monopoly of banks could have shut it down. It’s now way bigger than that. I think one of the big announcements was when China announced its version of it. It’s game on now,” he said as cited by the Daily Hodl.

He continued and said: “Somebody is going to build a blockchain-based payments system. China’s going to build one. Bitcoin has one. There’s going to be some others. You can’t put the toothpaste back in the tube. It’s out.”

Galaxy Digital founder Mike Novogratz is also on the same page. He said that institutional adoption of BTC is an important point as well.

“The fact that [Stanley Druckenmiller] came out publicly on TV and said, ‘I’m into Bitcoin, not as much as gold, but I’m into Bitcoin’ is a monster statement. You get him in, Paul [Tudor] Jones in, so many other prominent investors in, there’s no longer any stigma to being in.,” he said.

He continued and explained that “And as you get them in, as you get Fidelity doing custody, all these institutions start coming in. They’ve got a vested interest, and they know all the people in charge. You get the money class involved; it’s harder for the regulators to just say no.”

We recommend that you check out the original article in order to learn what these two had to say more.

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I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.