Mike Novogratz Is Betting On Bitcoin (BTC) Reaching An All-Time High By The End Of 2019

The bullish predictions on Bitcoin’s price continue even though the coin has suffered a strong correction recently.

At the moment, BTC is trading in the red, and the coin is priced at $9,526.80.

Potential reasons behind the 2019 rally

Now, CEO of crypto investment bank Galaxy Digital says that Facebook, Telegram and the global uncertainty are behind BTC’s big 2019 rally.

During an interview with Bloomberg TV, Novogratz says Facebook’s Libra is a game-changer for Bitcoin and will ultimately bring new users into the world of cryptocurrency.

“The Libra project really isn’t going to be owned by Facebook. It will be run by 100 different participants in what looks like a distributed system. And if you look at people who’ve signed up already, it’s Mastercard, Visa, PayPal, and Uber. You’re talking about the biggest companies in America and globally that are going to participate in this global currency system. That’s a game-changer.”

“Facebook’s got two billion-plus consumers. Why it’s such an exciting experiment is if it gets turned on, and I think there’s a probability it does and a probability it doesn’t, but assuming it gets turned on you, now have up to two billion consumers that get to actually experiment and use it.”

He also said that the hardest part of any new business is getting people “in your box” as Novogratz puts it.

Telegram will launch their blockchain

He claims that Facebook is most likely the best chance and in about two or three months, Telegram will also be launching their blockchain.

His point is that before Facebook launches Libra, we will get a real view at an experiment that’s called Telegram.

Head over to the Daily Hodl original article to find out more details on what he had to say.

Other predictions are claiming that BTC’s price will head towards new highs in 2020.


Companies Mentioned

CoinMarketCap
CoinMarketCap

CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.

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Eduard Watson Author

An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.

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