Bitcoin’s Bull Cycle Has Just Begun, Mike Novogratz Says

There are all kinds of bullish predictions about the price of Bitcoin these days. Mike Novogratz is another important name who contributes to them.

It’s been revealed that the CEO of the crypto management company Galaxy Digital said that BTC is only at the beginning of this bull cycle.

In a new interview with Currency.com, Mike Novogratz said that he expects other large insurance companies such as MassMutual which invested about $100 million in BTC to do the very same.

New bullish BTC prediciton

He believes that all this will be pushing the price of BTC as high as $150k in 2022.

“There’s scores of insurance companies. They’re all going to come. We’ve got a couple of big asset managers only. One guy bought $600 million yesterday. I was talking to him. He’s like, ‘Well how far are we ahead or behind?’ I was like, ‘You’re on first base in the first inning,” he said.

He continued and said: “So we’re going to see these movements in these institutional buckets over the next couple years. I think $50,000 this year may be easy and $100,000 or $150,000 the next. That’s just as the money moves in.”

He also said that he expects younger generations to continue to lead the way among retail investors and make an even larger impact once baby boomers begin shifting wealth to their kids.

“There’s also a giant wealth transfer coming. The baby boomers are going to die, and they’re going to finally give the money back to millennials and Gen Z. Millennials and Gen Z, 50% of people your age meet their significant other online. 50% of marriages today are started online. My age – zero…” he said as cited by the Daily Hodl. 

Make sure to check out the video above in order to learn what more he had to say.

At the moment of writing this article, BTC is trading in the red, and the coin is priced at $31,302.45.

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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.
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