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Mike Novogratz called Elon Musk a genius and predicted Bitcoin’s rise to $ 100,000

Bitcoin price could rise to $ 100,000 by the end of 2021 if other companies follow the lead of electric car manufacturer Tesla. The founder of the cryptobank Galaxy Digital, Mike Novogratz, said this in an interview with Bloomberg.

The billionaire called Elon Musk a genius in his decision to listen to people and evaluate the interests of young people. In his opinion, other organizations will invest in the first cryptocurrency to hedge inflation risks.

“You will see that every company in America will start doing the same,” said the billionaire.

On Monday, February 8, Elon Musk’s company announced a $ 1.5 billion investment in Bitcoin. Tesla admitted that in the future they will integrate the first cryptocurrency as a means of payment for products.

The price of digital gold hit $ 44,800 and tested the $ 48,000 mark on February 9th. At the time of writing, the coin is trading at around $ 46,320 on the Bitstamp exchange.

Bitstamp’s 4-hour BTC / USD chart from TradingView.

Earlier, Novogratz called bitcoin a profitable and reliable investment. In his opinion, everyone should invest 2-3% of their net capital in the first cryptocurrency.

We will remind, analysts of the investment bank RBC Capital Markets called on Apple to follow Tesla’s example and buy bitcoin.

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Fidenge Pecold

My profession is a journalist, but my hobby for 8 years has been studying Forex investing and trading. During this time, I managed to gain extensive experience in investing and trading cryptocurrencies and double my capital in the Forex market. To be the author of this magazine, the site owners invited me to participate in one of the 2020 trading webinars, and I will try to reveal the most relevant crypto market news for you.

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