Galaxy Digital’s CEO, Mike Novogratz, has made a bold prediction regarding bitcoin’s price, stating that it could reach $100,000 by the end of the year. In an interview with Bloomberg, Novogratz attributed this potential surge to the positive political environment surrounding digital assets in the United States. He expressed optimism about the growing acceptance of cryptocurrencies and the progress being made towards approving spot ethereum exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC).
Novogratz emphasized that if bitcoin reaches $73,000 in the coming weeks, it could pave the way for it to reach or exceed $100,000 by the end of the year. He described this target as a significant milestone for the cryptocurrency.
The Galaxy Digital executive also highlighted the recent shift in sentiment towards cryptocurrencies, noting the increased support for pro-crypto candidates in political campaigns. Ripple, Coinbase, and Andreessen Horowitz (a16z) have each donated $25 million to the Fairshake Super Political Action Committee (PAC) to aid pro-crypto candidates. Even former President Donald Trump, before his legal issues, pledged to support the crypto sector and oppose the Biden administration’s anti-crypto initiatives.
Novogratz expressed his belief that the crypto industry is moving towards a positive direction and that the necessary legislation for cryptocurrencies is gaining bipartisan support in Washington, D.C.
However, the industry faced a setback when President Biden vetoed a resolution that aimed to overturn the controversial SEC Staff Accounting Bulletin 121 (SAB 121). This resolution had received support from both the House of Representatives and the Senate, making the veto a disappointing development for the crypto community.
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